The cash has been accumulated from profits from the same income that have been paying our wages and debt for years. We'll earn an income next year too you know tp pay wages and debt!
Actually I am just using ARSENAL's OFFICIAL ACCOUNTS, as opposed to pretending they dont exist and using the BBC . The best 'catch Piskie out' yet by a long long way
I'm no banker .. but I have my finger in many pies I agree with you though, no point spending the money in the bank .. but we can afford to spend some of it. I think the original argument came from the fact some keep using stadium debt as the reason we cannot buy players .. when we have stockpiled close to £115m (using BBC figures) and have it sat in the bank.
Jayram said he was an unemployed accountant, I think that speaks volumes Jayram, show me the OFFICIAL ARSENAL ACCOUNTS where is says we have a £200m stockpile.
Yes, we can and should spend some of it. We need to keep reserves. In my opinion, large amounts, in case our revenue drops drastically. That is the same as any sensible business would do, dispite what Jayram seems to believe.
I have shown you already that we had £160m as at the summer of last year based on our official year end accounts- you know in that link you pretended did not have the cash figures in it Last year (from summer 2010 to summer 2011) our cash inc short term deposits) rose by £33m - a similar amount would put us on £193m. I am assuming you dont think we lost money from 2011-12. By the way, sorry to do this to you, but the BBC link was reporting mid year numbers from November 2011 and comparing to November 2010. As an Arsenal fan you should know these things As I pointed out earlier in the thread since the last full accounts our money has been switched to short term deposits - almost all of it.
Correct, As i said stadium debt BS is an excuse to try and exonerate Wenger from his mistakes. A Piskie special.
Page 16 of the report says: I am not sure if that figure includes the player sales and purchases that took place after the season started.
I take it you still dont understand then. Cant help you if you dont have the capacity to understand. Although I would think that the simple concept of income more the covering debt repayments and all other expense PLUS leaving a profit would tell you that cash is only going to grow. I have also pointed out that Utd and Spurs hold a fraction of the cash we do - they are not going bust. As HH pointed out the rubbish over the stadium debt causing us to tighten our belts is bullshit. From day 1 we earned more and made more profit when we moved to the Emirates and have buit up a cash pile nearing £200m
The accounts show we have not - despite the Gazidis spin. Its easy for anyone to make excuses about it, but the numbers simply do not support that view.
Fair enough £160m official figures. I still believe that it's prudent not spend it all just because we've got it. I think we all agree though that we want to see some investment in the squad, and that we can afford, reasonably enough, to do it.
It doesnt - it wont include the player sales (or buys) and will not include ANY operating profit we made from summer 2011-12
Maybe not now, but do you think that lack of squad investment over the last 7 years was due in any part to having stadium debt to service ?
You are correct that I do not understand your point of view. My qualifications in banking and accounting, amongst other things teaches me that it is sensible to keep reserves, rather than rely on the income that is currently being generated. There are NO guarantees that our income will continue to grow. Hence why it is wise to keep cash reserves. We can spend some, but certainly not all, or even half.
This is why I have said that we can afford now to pay the top players more for 2-3 seasons (letting the deadwood contracts run down if we have to because we cant sell them) AND afford to spend £40m-50m on players There is a worrying aspect to the HALF YEAR accounts from JUNE to NOVEMBER 11, and that is our bank account has been drained and transferred to short term deposits. Now this may just be a bank account with higher interest that we cant access for a year, but it could also be 'investments' by Kroenke.
Its wise to keep cash reserves but not ALMOST A YEARS INCOME! We've never done it in our history, and no other club does it to the same extent. Arsenal Football club has become an ultra prudent business, at the expense of success. we should be investing £75-£100m of that cash in the squad - wages and transfers. Probably best to leave it there or you will start talking about how big your house is again
I disagree, but can't be bothered to argue with you anymore. Most people are agreeing that we can afford to spend, but I don't think anyone but you is suggesting that we spend £100M of our cash reserves. I reiterate that I am glad you are not my accountant and leave it as that.
