The Gunners' hierarchy gathered at the Emirates Stadium once again to take questions from supporters and shareholders on the club's standing. It's that time of year again. Numbers are crunched, fingers are pointed... and Arsenal have gone another year without a league title.
Working out why they haven't quite crossed the line this year, Arsene Wenger was joined by Stan Kroenke, Sir Chips Keswick and more, as they answered questions about the club.
The Gunners were facing criticism for their lack of summing signings, but it appears the club do have an investment scheme in place.
But what did we learn from the AGM meeting ? Here's our take...
1) Wenger does NOT own club shares... and he's more motivated than ever before
As Arsene Wenger once again impressed at the AGM, he did reveal that he did not have any shares in the club. It was previously suggested that he was buying shares in the club, but he says it was a deliberate decision not to get involved in off-the-pitch activities. He was that he did not want to be accused of doing anything to influence value of club.Wenger continued his impressive showing saying:
“We want more, and I’m the first to agree that it’s not enough. But it’s not easy because if it was easy then everyone would have done it. If you asked me to do it again then I would say: ‘no, let someone else do it.’ It would be too much of a gamble and was very difficult. We underestimate how difficult it is to stay at the top.”
Wenger was the most impressive performer throughout the AGM.
He has reinforced his stance that he is determined to bring domestic and European success to north London once again - even if he is edging closer to his retirement.
“I am more motivated than ever, more committed than ever" he said. I look back 19 years and think I was a bit more relaxed." And he opened up on how he plans to leave the club: “I’m committed until the last day of my contract to bring back big success and leave the club in the shape for the guy who comes after me to do even better.”
2) Gunners set to spend big on training facility investment
Arsenal will spend the next few years enhancing their training and youth facilities, as they look to remain as one of the leading academies in Europe.
Ivan Gazidis commented that £30million would be invested into the London Colney centre, which will include a new player performance centre.
Interestingly, he hopes the developments will be able to further attract players to the club.
Gazidis said: “We are investing in the best people, scouting, medical, analytics, and many are from outside football. These changes will keep us ahead of the game. Our strategy is youth development, player signings, and player retentions.”
3) No apologies over lack of summer signings
Arsenal fans were sent into a blaze of fury over the summer after failing to sign an outfield player.
Despite that, the Gunners board have not apologised for their lack of business, and merely insist that they have to be smarter with their transfer policies.
“We have built a strong squad. We have to be smarter, working more intelligently than our wealthier competitors," said Gazidis. I make no apologies for having a strong squad and being in a strong financial position. That’s always been our aim.” He added: “We won’t spend money or waste it just to appease commentators. Ozil, Sanchez and Cech show how the board will release funds for signings at any point. You don’t sign players like Ozil and Sanchez unless you have ambition to win the league and you don’t sign them without Wenger.”
It was once again publicised on Thursday that Arsenal had was Britain's most expensive match day, as per the BBC price of football study.
But Gazidis says that the prices are not putting off their punters and therefore they have no reason to reduce their rate.
“Almost no-one gives up an Arsenal season ticket. We had 97 per cent renewal rate. But in the face of demand, board holds prices," said Gazidis.
“Always comparisons with Germany. Effectively, in Germany the tax payer subsidises the average match going fan.”
Arsenal chairman Sir Chips Keswick was not best received by fans of the Gunners after he appeared to struggle to answer a host of questions.
It was reported that Keswick authorised a £3million payment to Kroenke Sports and Entertainment (KSE) last year - and Keswick was forced to defend that decision after questions from the supporters.
Keswick said: “I felt it was right to pay for wide range of services, we should not be in position to ask for these services for nothing.” He adds: “We have a majority owner who is very supportive.”
Fans were not convinced by his stance, similar to the one he gave 12 months ago, with the Arsenal fan who asked the question stating: "I respectably suggest that my question has not been answered."
That response was received with cheers from the floor.
On the payment, after being peppered with questions from shareholders, Keswick said: “The fees were advisory and I have explained you can’t codify because of the continuity of the advice.”
In the end, Keswick was almost bordering on patronising towards the shareholders in the room - and it did not go down well.
In reply to a question about poor Champions League results, he merely said: "I’m not answering that, it’s just noise."
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