News: Arsenal chief executive Ivan Gazidis rejected the idea the club are sitting on piles of cash which they ref #US e to give to manager Arsene Wenger to spend on players when he addressed the AGM on Thursday. Arsenal fans have griped for years that the club do not spend some of their substantial profits on new players, but in the last transfer window they paid out j #US t #UN der 60 million po #UN ds ( #HK $744.7 million), second only to Manchester #UN ited among #EU ropean teams. There is an inaccurate analysis about cash available. We are not hoarding a vast cash balance. We do not try to broadcast our cash situation, but the situation is more complex, Gazidis told shareholders at the Emirates Stadium. Arsenal paid Barcelona aro #UN d 35 million po #UN ds for Alexis Sanchez and bought Danny Welbeck from Manchester #UN ited for 16 million during the last transfer window. We do try to keep a reasonable amo #UN t for the transfer budget, Gazidis added. It is quite #UN true that we are sitting on a huge cash pile for some #UN specified reason. Over recent years the Arsenal AGM has seen fans expressing their fr #US trations that their team had not won a trophy since the 2005 FA Cup but last seasons triumph in the same competition made for a different mood this year. . #hk #hknews
Posted on: Thu, 16 Oct 2014 19:50:41 +0000
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