Arsenal chief executive, Ivan Gazidis, has pin pointed the signing of Mesut Ozil as proof that Arsenal have reaped the benefits of choosing to self-fund their move to the Emirates stadium.
The Gunners moved from Highbury to the Emirates at a cost of £390million, which subsequently hindered their ability to match their closest rivals in the transfer market over the past few seasons.
Although it must be said the fans were forced to endure periods of bleakness concerning Arsenal's future status as a top four team, the north London club are now enjoying the last laugh as they announced pre-tax profits of £6.7million yesterday.
The fact that Arsenal were able to splash over £40million in order to bring Mesut Ozil to the club, whilst still having case reserves of £154million, is, as far as Gazidis is concerned, testament to the fact that the path they took in opting to self-fund the Emirates stadium move was, although tricky, ultimately profitable.
“The signing of Ozil for a club record fee is a significant step for us,” he said.
“It was a direct result of all the hard work we have put in over recent years to build the commercial capability of the club to deliver the consistent revenues and financial strength required to compete for the world’s best players.”
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