Saturday, January 26, 2013

Arsène’s austerity - Simon Kuper

Has football’s economist got it wrong when it comes to the game’s finances?

Spend some f****** money!” Arsenal fans chanted as their team lost again last Sunday at Chelsea. The cry echoed around the world on Twitter. Its target, Arsenal’s manager Arsène Wenger, had heard the argument before.

Red and White Holdings, which represents Alisher Usmanov, an Uzbek-born oligarch ranked by Forbes as Russia’s richest man, and Farhad Moshiri, Usmanov’s British-Iranian business partner, who own nearly 30 per cent of Arsenal’s shares between them, also wants the club to spend more.