One of the questions that keeps popping up is where Arsenal suddenly found the money to go out and get Reyes. We heard for months and months that there was little money available and even Le Boss said that the chances of a signing happening in the transfer window was around 20%. Then all of a sudden we splash out 20 million GBP for one player, albeit a damn good one. So what gives?
There have been a couple of different reports on this one. One of them is that Arsenal had 50m GBP stashed away to pay off some loans on the new stadium, and they decided that, because they’ve done well in the Champions League, they could splash out some cash to make a buy. Rumor is that the club is extremely confident that they will get past Celta Vigo in the CL, and that’s another reason they did this, though I don’t want to know what happens if go out.
One of the other things to consider is that Arsenal is NOT paying the full amount up front. According to a statement from the club (posted on BigSoccer by rickbreese), the club is paying around 9.5m GBP up front, and that is probably all they’ll pay for this year. Much of the rest of the deal is based on appearances, performance, and trophies won, so the actual value will not be known probably for a couple of years. So they’re tied into this deal for awhile, which might put a crimp on any plans to go after anyone in the summer.
Which brings me to my next point. According to Wenger, this move puts an end to any possible moves over the summer. That means no van Persie and no Kluivert. However, I think that, if they get the stadium situation squared away by the end of the year (like it was supposed to be last year, and the year before that, and…), you might see some money get freed up, since the club will know that, eventually, they’ll have much bigger funds. The flip side, of course, is that, should the stadium thing collapse, we might be in a lot of trouble, in part due to the Reyes deal.
Finally, to address the rumors about Henry to Real Madrid, I just don’t see it happening. First off, Henry is genuinely happy here and, unlike past players, has never even hinted about wanting to leave, even if it is to the club that buys anyone and everyone. Second, I figure these kinds of rumors are accurate about 10% of the time, so I don’t put much stock in this. Remember: Vieira went to Spain about a dozen times before and even after he signed his new deal.
5 Responses to “Where the Cash Came From”
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January 29th, 2004 at 5:00 am
This is a hard one and considering that Arsene said only day’s before the signing there was only a 20% chance of signing anyone it does seem a little strange?
January 29th, 2004 at 10:21 am
The Arsenal NEVER EVER shout about something until the deal is done, be it players or stadiums. It is left to others to speculate.
As I’ve mentioned elsewhere the stadium deal is done, a permanent office is open, 50 people have been employed, the cranes will go up soon. It was never in any doubt.
Have faith
January 29th, 2004 at 11:25 am
The deal for reyes was explained By the board in the press in england like this, first in stallment of ?8m up front and the rest in a sliding scale of ?2m each time he passes appearance and goalscoring land marks for arsenal & spain. the final payment of ?2M will be paid when we win the champions league.
The steel work for the new stadium is at this moment is being manufactured by an engineering firm not far from where i live bolton.
January 29th, 2004 at 11:46 am
I am not too worried about “summer signings” at the moment, as we are very solid in most positions and have ALOT of young talent that is starting to shine. Reyes/Clichy/Pennant/Bentley/Aliadiare are just some of the bright young stars. Not sure buying in the Summer is a concern.
January 29th, 2004 at 12:41 pm
Arsenal will pay just over 7 GBP for Reyes this season. Just over 3 GBP next season. With the remainder (roughly 6 GBP) coming after certain incentives are reached. The incentives are thought to be 125 appearances for Reyes in an Arsenal shirt, and Arsenal winning the CL in the next 5 years.
It is almost impossible for us to lose money on this deal, no matter how bad Reyes flops. We could turn around and sell him in a years time and make a tidy profit if need be. Not that Arsene will do that, but the deal is as fool proof as it gets. Good work by Dein.