Arsenal’s chances of an assured Champions League place appear to be dwindling, but chairman Peter Hill-Wood has reassured fans about the financial implications. He has insisted that there will be no impact on the mortgage payments on the club’s £360m Emirates Stadium. The club, which made a £36.7m profit last season, need to sustain £20m a year repayments over 23 years to cover the £250m bonds issue which financed the project. Hill-Wood said, ‘There is no denying that it would be a real financial drain on the club if we didn’t qualify for the Champions League next season.
Arsenal’s chances of an assured Champions League place appear to be dwindling, but chairman Peter Hill-Wood has reassured fans about the financial implications. He has insisted that there will be no impact on the mortgage payments on the club’s £360m Emirates Stadium. The club, which made a £36.7m profit last season, need to sustain £20m a year repayments over 23 years to cover the £250m bonds issue which financed the project. Hill-Wood said, ‘There is no denying that it would be a real financial drain on the club if we didn’t qualify for the Champions League next season. Even if we were in the UEFA Cup and enjoyed a long run in Europe, that would not come close to making up the shortfall. But although missing out on the Champions League for one year would be a big disappointment, it would not mean financial armageddon for Arsenal. When we worked out the budget, and did our fund-raising calculations in respect of the new stadium, we did not assume we were going to be in the Champions League every season. That may be an assumption at other clubs and it’s not for me to comment on the way they are run, but we do not want to get out of our depth in terms of paying our bills.’ Who could he mean?