Date: 21st February 2007 at 10:38am
Written by:

Those of you who ‘enjoy’ a visit to other Vital sites will have noticed the editors of Vital Chavski and Vital Spuds often refer to our spanking new stadium as ‘Cashburden Grove’, suggesting that our move to Ashburton Grove was one that will cripple us financially.

Well upon release of Arsenal half year financial results (the first since the move) I think it’s safe to say that the respective editors will have to find a new nickname for our stadium.

The figures are impressive to say the least.

Compared with the figures from the same period in the previous season the club turnover is up to £100.8 Million from £57 Million & the operating profits are up to £20 Million from £8 Million.

You can read the full interim document here.

Even though we have only been at our shiny new home for a short space of time, it’s plain to see the reasons why it was so important to make the move as the club’s ambition to take our standings to the next level.

So any comments made from here on in can be presumed as jealousy after their well thought out statements have been proved to be a far cry from what they would have you believe.

 

27 Replies to “Cashburden Grove? I Don’t Think So”

  • I still beleive we are in for 2 more years of belt tightening in terms of spending on the team. once all the property deals are put to bed, I think the club will go from strength to strength financially speaking.

  • obviously it is going to be financially beneficial, because you have a load of corporates willing to pay for your expensive seats. However, you will still be in debt for some time to come. And why criticise for innaccuaricies when being made fun of (thats part of it) … after all, we are not actually pototoes

  • Yep but you don’t mention the club earn’t a one off £23.6 m from selling a development site on Drayton Park. There remains a worrying hole in the accounts (which will be helped by the new TV deal) but may discourage the club from following the lead of our competitors by at least freezing ticket prices for next season. I think costs are hurting supporters demonstrated by the Carling cup final tickets only selling out today after being offered to red members.

  • vivb the reason the carling cup tickets weren’t sold out long back is because the best team won’t take part in the competition. many of the first team regulars will be missing, so that makes chelsea the favourates, and plus a trip to the millenium stadium is not cheap at all, so there are some supporters who go to the Grove week in and week out think twice before going to watch the kids take on the stealers in the cc final..

  • Errrm, you’ve just announced a £6 million LOSS! It is CASHBURDEN GROVE, IMMIGRANTS STADIUM and any other insulting names that I can’t yet think of you gooner mugs! COYS!
    Oh and you lost to a reserve side PSV yesterday HA HA HA HA HA HA HA HA HA HA HA HA

  • At least we are in the CL! And you lost to our reserves side so that dosent say much about your 11th placed team.

  • We made a one off payment of nearly £25Million + all the other costs including mortgage payments and still only made a £7M loss…not bad at all methinks! Turnover of £100M in 6 months is outstanding.

  • Vivb our income from gate receipts also doubled and yes add in the tv revenue next year and we are pretty good.

  • It won’t hamper your spending .. this is all squealing from Wenger to lower demands from clubs who he is interested in buying players from … you spent over £30m in 2006 .. not much of a freeze there

  • Sir Harry, that’s split over 2 financial years though, sounds like you’d make a good accountant for abramovich, with dastardly thinking like that… »»Arsene Knows««

  • does nobody have a mortgage? debt is okay if it is for your house! no one expects you just to up and pay for it in cash up front – and with regards to buying players, except maybe a left winger and left back reserve we shouldnt need to buy for 2 or 3 years with the team we good (assuming no career ending injuries)

  • To be honest, this is the 1st time I’m looking at the financial numbers of arsenal . And it does look ok. the net cash flows are positive at 18 M. Sir_Harry, the net spend on players is 7.4M for this 6 months and 12M for the previous year. The turnover from gate receipts also look very good.

  • The numbers look promising. It shows a club moving very much forward. Once we complete a full season at the Grove, things will improve even more drastically. It feels good to be a Gooner.

  • Sir_Harry Wenger only moans about the spending power of the Chavs, he honestly does not mind if your club spends £8 million on Zakora or West Ham spend £8 million on upson. It frustrates him when he bids £11 million for SWP and is guzzumped by a £21 million offer from Fester an co across the road.

  • For Gavaldinho. What have you won this century? when was the last time you won a trophy when you werent helped by an Arsenal Manager or an Arsenal Double winner? Have Millwall qualified for the UEFA cup as many times as you this decade? How many points behind Reading are you? Who knocked you out of the Carling cup? Why is your claim to fame Ledley king scoring the fastest ever Premiership goal?

  • It really does amaze me that Gavaldinho thinks he can take the ***** out of us!!! Seriously, why would you do that??? Do you realise what your team has achieved over the last 20 years? And to say that we were beaten by PSV’s reserves…? Does that mean that their youth team would spank you lot like our reserves did?

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