Arsenal will spend this summer, promises chief executive

Gazidis promises a ‘busy close season’ at the Emirates

Arsenal chief executive Ivan Gazidis has promised fans a ‘busy close season,’ with a number of new players arriving at the Emirates.

At a meeting with members of the Arsenal Supporters Trust [AST] at the Emirates on Monday, Gazidis said the club would spend within its means to strengthen the side where needed, aided by the input of majority shareholder Stan Kroenke, who recently increased his stake in the club to 66.64 per cent.

Gazidis said he shared the ‘profound disappointment’ felt by Arsenal supporters after a season which at one point held promise of a quadruple, but which ultimately saw the club emerge empty-handed and stretch their trophy drought to six years.

“It is very clear we had some shortcomings and in this close season we are going to see some turnover of players,” said Gazidis. “Some new signings will be coming in and some of our existing squad will be going out. As Arsene [Wenger] has said, it will be a busy close season for the club.”

Gazidis was speaking after a stinging attack on the board by the club’s second-biggest shareholder Alisher Usmanov, who accused directors of tolerating a culture of failure on the pitch coupled with increasing ticket prices and a refusal to inject funds.

Gazidis stated that money will be spent wisely over the coming months, and he also reiterated his faith in Kroenke, assuring supporters that the American’s offer for the club will not be financed by debt.

Most Read

“With respect to Stan we have someone who understands the club,” added Gazidis. “Mr Kroenke is known to the directors and they have confidence in him. In his track record in sports, and also very importantly his track record with Arsenal, he has used a self-sustainable model and brought success to his sports teams and he wants success for Arsenal.

“He has grown to love Arsenal but will remain in the background. This is not somebody who steps forward and looks for a public profile.

“The confirmations that Mr Kroenke gave in relation to his offer were, one, that he supports the self-sustainable business model of the club and secondly that the offer would not be funded by debt against the club or dependent on Arsenal’s business.

“Those were two significant commitments and confirmations that he made.”