Here’s one shocking news about Kroenke’s financial support of Arsenal
Football business reporter Swiss Ramble has just revealed that Stan Kroenke hasn’t put a penny of his money into Arsenal for the past five years.
The Gunners have developed a reputation for being one of the most prudent teams in the Premier League.
Arsene Wenger was regularly blamed for his refusal to spend the cash when he was the club’s boss and the Frenchman improvised by developing players.
One of the reasons why fans wanted him gone was the lack of quality signings, it has now emerged that Wenger wasn’t just being reluctant to spend money, but the money was hardly there to spend.
Since he left, Arsenal seems to have been more active in the market for big-name stars, nevertheless, the club’s owner hardly spends his money on the team, unlike some other teams.
While teams like Chelsea have enjoyed their owners splashing their money on the club, the report reveals that Arsenal hasn’t been spent on by Kroenke, rather, the club even paid his company for services rendered.
The report confirmed: “Arsenal received no funding in last 5 years, either from Kroenke or the bank.
“In contrast, they made £101m payments (debt £40m & interest £61m).
“Also paid KSE [Kroenke’s company] £6m for ‘advisory services’.”