Great article from The Times.
http://www.thetimes.co.uk/tto/sport/...83ccdc3e6ea15b
If you can get behind the paywall, sometimes the blogs are free, it's worth a read.
Quote:
Despite posting annual profits, Arsenal’s financial position is just as precarious as their status among England’s elite clubs, the continuation of which must be viewed as a significant over-performance given the restrictions under which they must operate.
And for that Arsenal fans have just one man to thank - Arsene Wenger - once they have stopped grumbling about their side’s inexorable decline, that is.
Without a sugar daddy willing to fund them. Arsenal are the Newcastle United of north London - blessed with a magnificent stadium and a large and loyal fan-base, but reliant upon superior scouting and player development to compete in the transfer market.
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