Arsene Wenger reflected changing global geopolitical realities and the way they are changing football when he commented at Arsenal’s annual general meeting, ‘Our world is changing quickly. Europe as a continent is becoming poorer, the rest of the world is becoming richer, especially Asia, and these people invest in football in Europe.’ Erck Thohir, an Indonesian billionaire, bought a 70 per cent stake in Inter Milan this week to become the second foreign owner in Serie A.
Arsene Wenger reflected changing global geopolitical realities and the way they are changing football when he commented at Arsenal’s annual general meeting, ‘Our world is changing quickly. Europe as a continent is becoming poorer, the rest of the world is becoming richer, especially Asia, and these people invest in football in Europe.’ Erck Thohir, an Indonesian billionaire, bought a 70 per cent stake in Inter Milan this week to become the second foreign owner in Serie A.
Wenger was returning to his familiar theme of the huge investment poured into Arsenal’s European rivals by overseas benefactors and the way in which it had increased competition. ‘The competition you face on an international level, financially, has become bigger than before. Even if you look at the Champions League, before you had four of five clubs who could win it, today you will have 10,’ said Wenger, whose contract expires at the end of the season. There have been recent reports of a two year extension on which Wenger has refused to comment.
Wenger insisted that spending was not always the answer and the club would always give youngsters a chance. He said that this three-pronged policy would continue to be finding and investing in the best youngsters, scouting for unknown gems and buying key players such as Mesut Ozil whose arrival smashed the club’s transfer record. Wenger noted, ‘We have shown we are not scared to spend money and we have the funds.’
The meeting was less stormy than some of the more recent ones, but in part this was because the format was more strictly controlled. Chairman Chips Keswick refused to explain why Alisher Usmanov, who has just increased his stake to 30 per cent, does not have a board position.
In a rare public appearance, majority shareholder Stan Kroenke spoke briefly at the meeting, making the unexceptional comment that it was time that Arsenal won silverware after eight years without a trophy. Six people raised their hand against the American being re-elected as director, a result he declared to be ‘closely unanimous’, an interesting addition to the English language.
Chief executive Ivan Gazidis dealt with questions on everything from the club’s transfer policy to the lack of rain cover in the front rows at the Emirates. But supporters’ groups complained that the new format for the AGM, with questions displayed on big screens rather than asked in person, robbed them of the ability to hold the board to account.
Gazidis dismissed concerns aired by the four main fan groups in a letter to Kroenke that claimed the owner had reneged on an agreement to meet with them ‘formally and informally’. Gazidis said he was mandated to meet them on Kroenke’s behalf and that Arsenal engaged with its fans more fully than any other big club in England.
‘Clearly, appearing at a statutory AGM is not fulfilling a commitment to meet formally and informally with supporters,’ said a spokesman for the Arsenal Supporters’ Trust. ‘It was a very sanitised and controlled meeting. The AGM as a forum to engage with supporters has been watered down.’