Tuesday, April 27, 2010

Arsenal to Pay off £133 Highbury Property Loan by 2010

Arsenal has been cash-trapped over the last few years. It has huge loans for the construction of Emirates stadium and redeveloping its Highbury property. Now, reports available in the media suggest that Arsenal would be free from its Highbury property loan by this year. Excellent financial profit since last Summer has helped Arsenal cut its property loan to £2 million only. Highbury Square has 655 private apartments still to be sold and the profit generated by the sales of those flats could even give Arsenal a profit of about £20 million, an amount that Arsene Wenger could spend in the transfer market boost the squad. Moreover, the club could also generate a probable profit of £45 million by selling 350 units at Queensland Road.

After paying off this property loan, Arsenal’s total loan would stand at around £175 million. Wenger’s policy of spending less in the transfer market and focusing more on young talent means Arsenal could pay off all of its debt in the next 2 to 3 years. So, good days are now gradually looming at the Emirates stadium.

Arsene Wenger is reportedly looking for a center back in Summer transfer window as Gallas, Sol Campbell and Mikaël Silvestre are all out of contract at the end of this season. The manager is now eyeing on Everton’s Jack Rodwell and the arrival of Bordeaux striker Marouane Chamakh on a free transfer now seems to be a matter of time.

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