Arsenal, (through their investment department) have lost about £80m in the last few weeks, due to all the instability in the investment markets (stocks, shares, bonds etc).
I kid you not. I can't tell you how I know this as I would be breaching a few rules, but basically, all the money they have recieved from transfers has been wiped out by the losses they have taken (mainly government bonds in Europe).
As I see it, Wenger has not been given a transfer budget at all so far*, their debts and losses is as reported around £80m the recent weeks, I do not know if they've lost even more earlier this year. They have recieved money from transfers of a total amount on £90-100m(as some deals were undisclosed, I can't surely say the exact amount payed.) and they have payed back the £80m that they have lossed to he parts involved. Thats 80 percent of their supposed fortune, they have bought two players, Gervinho(£10m) and Alex Oxlade-Chamberlain(£10-15m) thats the final 20 percent of their incomes.
Their owners haven't invested any money in this transfer window yet, which must be horrorfying for all Arsenal fans, but as said this is just a theory.
The possible end-up for this season could be 5-10th IMO, as they have lost their key players who have assisted their last star Robin Van Persie the recent years. People say the best way to defend is by attacking and Arsenal have lost some of their most vital attacking force. They have also lost their best defender Gael Clichy to Manchester City, which makes Arsenal even more vulnerable than they already are. Arsenal clearly need investment, but Wengers hands seemed to be tied. When he was asked - Will you be bringing in new players? he replied with ''in England people think that the answer is to spend, but reality is, we are having 8 first team players out''.
The pressure from media and fans is immense, Arsenal clearly need to spend to make the top four, and I find his answer very, very strange.
*It's still a couple of days left of the transfer window.
I believe that in the remaining 3 days of the transfer window, Arsenals owner will make further investment in the club, since they will become desperate over the recent results and their current position. Please note that theese words(except the facts & information) is my personal thoughts and opinions.
//W12HOOPS
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