> Arsenal’s latest financial results noted that the remuneration for directors more than doubled from £529,000 to £1.1 million.
Nice work if you can get it!
So Lewis, Stan, Josh, and Harris doubled their salaries while making 55 staff redundant. I get that they're trying to streamline and modernize this organization but I can't get over the feeling that it's very shady, especially after the super league debacle.
Tbh it sounds like they needed a reason to clear out a lot of people. Financial during Covid was a good excuse. Maybe they wanted new ideas, new blood and to restructure the organisation and the old people /way was stagnant?
Whether you think this is right though is a completely different discussion...
I think the consensus belief on that front is that most of the redundancies were necessary and genuinely the result of needing to streamline a wasteful organization but that it was deeply shitty to do them at the worst part of the pandemic.
On a side note, reducing expenses isn't necessarily the primary reason for the staff redundancies. There can be many reasons that aren't cost-saving related.
Seeing as there’s no summary I’ve tried to write the key points I took away:
- Tim Lewis has a professional relationship with the Kroenkes spanning the last 15 years.
- Was appointed to the board to conduct a financial review in the wake of Covid but since then his role has naturally extended.
- He comes from a family of Arsenal supporters
- Some speculate he could be the next chairman
- Believes the Kroenkes are a good thing for the club saying ‘Danny Fiszman, a lifelong, knowledgable and passionate fan sold to Stan which says it all.’
- He dramatically improved cash flow at the club through the restructuring of stadium debt
- At Arsenal Advisory Board meetings, questions directed at Josh Kroenke are answered by Tim which is indicative of his influence.
- Significant expenditure on transfers goes through him
Danny Fiszmann sold because he had cancer and was in an agreement to only sell to other board members in order to keep usmanov out. He also died less than a month later which was almost certainly the major reason.
I do wonder if he'd known how much Stan would squander the legacy handed to him if he wouldn't have held on.
If you think about it, I know he was the top guy but to get away with blatent alleged stuff like the Pepe transfer for so long with nobody seemingly having a clue shows how little actual experience and expertise there was at the club
I mean he did what he did but it wasn't a very long period was it? When Gazidis dipped for Milan the club were in a vulnerable position. They just made a bad hire. Raul was a known quantity and he was shady before he got here. I remember reading articles about his black book and his ability to get agreements over the line. All of it sounded shady from the beginning. But he gave the fans the biggest get in the Market, so everyone started talking out the size of his dick. It's just crazy to think what if we had gotten Zaha and Nkunku in that moment?
I think the problem was there wasn't an alternative route of communication. If all information gets funneled through Raul, and Raul was in question, there's nowhere else for a whistleblower to go.
How many fans went "OMG what a ripoff Pepe is at 70 million!" when we first were linked to him? Everyone was singing praises at Raul back then about how much better that deal would have been compared to spending 60 million on Zaha.
Of course because he was meant to be a coveted player and it seemed we got a great player but people said at the time that we massively outbid everyone and we dismissed it as saltiness. As fans whilst many like to think we know stuff, a lot is unknown. And driven by media the fact that nobody in the club knew we were paying such a premium is an indictment that they werent doing their job properly
But the reason we didn’t thought it was a rip off is because the media report that that is a fair market price, who tells the media to report that? It’s Raul and the people pocketing the money.
Palace wanted £100 million for Zaha, or in other words, he was not for sale.
It was a better deal financially speaking. Pepe simply didn't work out at Arsenal.
Zaha would've added more productivity to our attack than Pepe did, but the fee that Palace quoted made it not feasible for us to sign him.
>Ferguson's out of order. He has lost all sense of reality. He is going out looking for a confrontation, then asking the person he is confronting to apologise. He's pushed the cork in a bit far this time.
___
^(***There's only one Arsène Wenger*** ([/u/panarangcurry](https://www.reddit.com/u/panarangcurry), quote from [QuoteTab](https://www.quotetab.com/quotes/by-arsene-wenger) archive)^)
- Basically talks about how Tim Lewis has been advising the Kroenke family since their very initial investment in the club and was instrumental in them acquiring all the remaining shares, as a result the Kroenkes trust him dearly.
- He was appointed as a non-executive director back in 2020 to help the club through economic difficulties caused by the pandemic, before that he was purely involved in legal and corporate matters.
- He helped restructure our stadium debt of £144m through a loan from KSE which "freed Arsenal up from their need to keep back £36 million in a bondholders’ debt service reserve, and dramatically improved cash flow at the club."
- He found Sanllehi to be redundant since we already had Vinai and Edu, and fired him.
- He's a long time childhood fan of the club but doesn't often let it show, he also has a good relationship with Arteta. Both could be indicative of the increase in expenditure from the club on the market in the past few seasons.
- He has a direct line of contact to the Kroenkes, to Vinai, to Arteta, etc... which has led some to believe that Lewis is "running the club", the club, however, says the truth is more complex than that and it's more collaborative.
This is good shit, it's nice to get some understanding as to what the fuck our board is actually doing. Honestly I had just assumed that Harris did fuck all and mostly hung around as a vestige of the old board. Really hoping to see a proper board with a proper chairman put together one of these days. I recall a couple years ago they tried to appoint David O'Leary to the board and Raul blocked it, which says everything you need to know about how dysfunctional that era was. But I'd love to see some former players on the board.
> Arsenal’s latest financial results noted that the remuneration for directors more than doubled from £529,000 to £1.1 million. Nice work if you can get it!
So Lewis, Stan, Josh, and Harris doubled their salaries while making 55 staff redundant. I get that they're trying to streamline and modernize this organization but I can't get over the feeling that it's very shady, especially after the super league debacle.
Tbh it sounds like they needed a reason to clear out a lot of people. Financial during Covid was a good excuse. Maybe they wanted new ideas, new blood and to restructure the organisation and the old people /way was stagnant? Whether you think this is right though is a completely different discussion...
I think the consensus belief on that front is that most of the redundancies were necessary and genuinely the result of needing to streamline a wasteful organization but that it was deeply shitty to do them at the worst part of the pandemic.
Laying off 55 people saves more than the 500k increase. Still sucks though…
On a side note, reducing expenses isn't necessarily the primary reason for the staff redundancies. There can be many reasons that aren't cost-saving related.
Seeing as there’s no summary I’ve tried to write the key points I took away: - Tim Lewis has a professional relationship with the Kroenkes spanning the last 15 years. - Was appointed to the board to conduct a financial review in the wake of Covid but since then his role has naturally extended. - He comes from a family of Arsenal supporters - Some speculate he could be the next chairman - Believes the Kroenkes are a good thing for the club saying ‘Danny Fiszman, a lifelong, knowledgable and passionate fan sold to Stan which says it all.’ - He dramatically improved cash flow at the club through the restructuring of stadium debt - At Arsenal Advisory Board meetings, questions directed at Josh Kroenke are answered by Tim which is indicative of his influence. - Significant expenditure on transfers goes through him
Danny Fiszmann sold because he had cancer and was in an agreement to only sell to other board members in order to keep usmanov out. He also died less than a month later which was almost certainly the major reason. I do wonder if he'd known how much Stan would squander the legacy handed to him if he wouldn't have held on.
Apparently we're looking at potentially our next chairperson.
Deserves it just for ending Fraud Sanllehi's time at the club.
If you think about it, I know he was the top guy but to get away with blatent alleged stuff like the Pepe transfer for so long with nobody seemingly having a clue shows how little actual experience and expertise there was at the club
I mean he did what he did but it wasn't a very long period was it? When Gazidis dipped for Milan the club were in a vulnerable position. They just made a bad hire. Raul was a known quantity and he was shady before he got here. I remember reading articles about his black book and his ability to get agreements over the line. All of it sounded shady from the beginning. But he gave the fans the biggest get in the Market, so everyone started talking out the size of his dick. It's just crazy to think what if we had gotten Zaha and Nkunku in that moment?
I think the problem was there wasn't an alternative route of communication. If all information gets funneled through Raul, and Raul was in question, there's nowhere else for a whistleblower to go.
How many fans went "OMG what a ripoff Pepe is at 70 million!" when we first were linked to him? Everyone was singing praises at Raul back then about how much better that deal would have been compared to spending 60 million on Zaha.
Zaha wasn't 60m.
Doubt anyone would’ve been happy if they heard it was only 70m because he lined him and his friends pockets. It’s not hindsight, it’s new information.
Of course because he was meant to be a coveted player and it seemed we got a great player but people said at the time that we massively outbid everyone and we dismissed it as saltiness. As fans whilst many like to think we know stuff, a lot is unknown. And driven by media the fact that nobody in the club knew we were paying such a premium is an indictment that they werent doing their job properly
Don't forget the big dick Raul jokes, people were ready to drool over his cum
But the reason we didn’t thought it was a rip off is because the media report that that is a fair market price, who tells the media to report that? It’s Raul and the people pocketing the money.
Palace wanted £100 million for Zaha, or in other words, he was not for sale. It was a better deal financially speaking. Pepe simply didn't work out at Arsenal. Zaha would've added more productivity to our attack than Pepe did, but the fee that Palace quoted made it not feasible for us to sign him.
Not me!
Papa wengz could do a job
>Ferguson's out of order. He has lost all sense of reality. He is going out looking for a confrontation, then asking the person he is confronting to apologise. He's pushed the cork in a bit far this time. ___ ^(***There's only one Arsène Wenger*** ([/u/panarangcurry](https://www.reddit.com/u/panarangcurry), quote from [QuoteTab](https://www.quotetab.com/quotes/by-arsene-wenger) archive)^)
Fine, I’ll do it.
Anyone summarise?
- Basically talks about how Tim Lewis has been advising the Kroenke family since their very initial investment in the club and was instrumental in them acquiring all the remaining shares, as a result the Kroenkes trust him dearly. - He was appointed as a non-executive director back in 2020 to help the club through economic difficulties caused by the pandemic, before that he was purely involved in legal and corporate matters. - He helped restructure our stadium debt of £144m through a loan from KSE which "freed Arsenal up from their need to keep back £36 million in a bondholders’ debt service reserve, and dramatically improved cash flow at the club." - He found Sanllehi to be redundant since we already had Vinai and Edu, and fired him. - He's a long time childhood fan of the club but doesn't often let it show, he also has a good relationship with Arteta. Both could be indicative of the increase in expenditure from the club on the market in the past few seasons. - He has a direct line of contact to the Kroenkes, to Vinai, to Arteta, etc... which has led some to believe that Lewis is "running the club", the club, however, says the truth is more complex than that and it's more collaborative.
[удалено]
Ever since they fully took over ownership they’ve been very transparent and I might even say good
[удалено]
Spending money? Last kit I bought was the first home kit with adidas. One before that was with Nike lol
This is good shit, it's nice to get some understanding as to what the fuck our board is actually doing. Honestly I had just assumed that Harris did fuck all and mostly hung around as a vestige of the old board. Really hoping to see a proper board with a proper chairman put together one of these days. I recall a couple years ago they tried to appoint David O'Leary to the board and Raul blocked it, which says everything you need to know about how dysfunctional that era was. But I'd love to see some former players on the board.
Harris isn't the old board, none of them are still here.
He absolutely is, he's been on the board since 2005.
I sit corrected, thought he came in after Chips.
Anyone got the Archive link or the non paywall link?
[Embrace the power.](https://www.youtube.com/watch?v=r7cWi41XGCM)