MadAdey
Money List Winner
Er...Try 15 years!
Didn't you say you were a (retired) Railway worker? (Driver?)
Arsenal's cash reserve is indeed large, but it wasn't just created last year, or the last couple of years! It's necessary to act as a buffer for both their, sizeable, Property business and ongoing risks (like not making Champions League for example).
If you really a business man, you would realise that! I think Adey's WUM is a better description!
I studied business and did A levels in Accountancy and Economics at college, but I would not class myself as a business man. But I am with you on this foxy. The cash that Arsenal have is what keeps them afloat, without it and such a huge debt they could be in trouble, big time. Like you said if they miss out on CL football one season how will they make their £25m repayment on the stadium, that's right, through the cash reserve. They have a lot of debt, but also have the cash to balance it and make payments.
Arsenal do have a sound business model that has bought them a new stadium while still having a good team and being able to compete. JCW, you say you are a business man with properties, so you must have a nest egg somewhere that you keep for a rainy day Incase you can't make your repayments on those properties. That money Arsenal has is the same.
Liverpool does indeed have wealthy, but sensible, owners who have dragged it back from major downturn under previous owners, so definitely not stood still! FFP is, however, something they need to be aware of - even with the bumper harvest of selling Suarez!
They are defiantly starting to sort out the books now at Liverpool and that can be seen from the fact they can afford to buy new players. The scare from a few seasons ago when it looked like they would have to sell any player that was worth anything has passed now.