Peter Hill-Wood says Arsenal can spend, but it has its ‘limit’
Arsenal chairman has come out and said that although Arsene Wenger has the money to spend, but it can’t compete with Chelsea or Manchester City in the transfer market. Furthermore he said that Scottish club Ranger’s financial turmoil should serve as a warning for rest of Europe. Hill-Wood said – “Arsene has money to spend but there’s a limit. We can’t spend £50 million on one player.
“At a certain level, we can’t compete. I don’t think Stan Kroenke is going to put the sort of dollars in that [Roman] Abramovich or Sheikh Mansour are putting into Chelsea or Manchester City. That’s not the way he thinks clubs should be run.
“Luckily, Arsene understands that. He got an economics degree from Strasbourg University so he’s certainly no fool. He knows how a club should be run. That annoys a lot of people but clubs have to be sustainable. We’re not going to go bankrupt in the way one or two other well-known clubs have.
“The Glasgow Rangers example is something we’ve all got to guard against. They spent far more money than they could afford. We’re ambitious enough but we’re not going to end in the same plight as Rangers. That is a fact of life. So my advice is, don’t get miserable about it.”
Moreover Hill-Wood also said that he was surprised to hear some of the fans chanting “You don’t know what you’re doing” towards Arsene Wenger.
He said “What those fans shouted did not influence me one little bit. I was disgusted to hear them because Arsene’s been absolutely outstanding. He is still outstanding.”
Rangers are certainly not the only example of a club spending beyond their capacity and then ending up in financial problems in the recent past. Leeds United are another club who have experienced this financial downfall. Spanish clubs like Mallorca, Racing Santander and most recently Malaga have all been subjects of such financial convulsion.
So do you agree with Peter Hill-Wood?
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