There are two puzzling perspectives to the modern football which perfectly suits Arsenal FC as a model and it’s one of the reasons Arsène Wenger has lasted over 20 years at the north London club and despite not winning the Champions League title once, the club owners are not ready to let him go.
Reason is because they are making lots of money.
Arsenal recently reached £1billion valuation on the NEX Exchange, a record-breaking feat for the Gunners as the club’s financial muscle continues to gather strength.
The last Arsenal transaction on the NEX Exchange on March 27 saw a single share in the club trade for an unprecedented £17,750, putting the club’s market capitalisation at £1.073bn.
That means Arsenal majority shareholder Stan Kroenke is sitting on a paper fortune of £700million from his 67% stake on the back of Wenger’s consistent management, which fans are clamouring to end.
Wenger’s achievement in keeping Arsenal in the Champions League every season has seen the share price rise from £8,000, at which Kroenke bought David Dein’s holding past £11,500, Kroenke’s offer to shareholders following his takeover to the current sky-high figure.
If Kroenke sold at this record price, he would make a £300m profit.
This is the main reason the American billionaire has been reluctant to sack the 67-year-old Frenchman and despite the 10-2 drubbing in the hands of Bayern Munich which led their embarrassing exit from this season’s Champions League.
Despite fans protest at different grounds this term as Gunners supporters want ‘Wenger Out’, Kroenke and his subordinate Alisher Usmanov have strongly backed Wenger behind the scene to further affirm they care about their pockets while the disgruntled fans want trophies. Two contrasting desires.
If given the chance, Kroenke and Usmanov won’t hesitate to offer Wenger a new five-year contract as long as money continues to flow and all they can do is hide in the Emirates Stadium executive boxes and watch the fans explode in vain.