Tony Fernandes, owner of English soccer team Queens Park Rangers, is backing rules aimed at making clubs live within their means as scrutiny on the sport’s finances intensifies.
Arsenal has “a substantial amount of money” to spend on new players during the current trade period, said Ivan Gazidis, the Premier League soccer club’s chief executive officer.
Arsenal Holdings Plc said a decline in property income and player sales resulted in a loss for the first half of the fiscal year at the 13-time English soccer champion.
Arsenal Holdings Plc’s fiscal-year profit increased 73 percent to a record 61 million pounds ($96 million) as the English soccer club sold apartments on the site of its former stadium.
Arsenal signed a 150 million-pound ($239 million) agreement with Emirates to extend the Gulf airline’s sponsorship of the Premier League soccer club’s shirts and stadium.
Arsenal manager Arsene Wenger said he’s opened talks over a new contract with the English Premier League soccer club.
Arsenal Chief Executive Officer Ivan Gazidis says the soccer team’s finances can survive not qualifying for the Champions League.
Arsenal Holdings Plc’s fiscal-year profit fell 79 percent as the soccer club sold fewer apartments at its former stadium and paid more to its players.
Premier League leader Arsenal said its fiscal-year profit declined after the north London soccer club earned less from selling players and wage costs rose.
Robin van Persie, who led the Premier League with 30 goals last season, said he won’t sign a new contract with Arsenal, which wants him to see out the final year of his existing agreement.
"This has highlighted the issue and we have to work out what to do."
- Ivan Gazidis on Mar 04, 2014