£1m salary boost gives Gazidis the 'hardest decision of my life'

Most of us would be happy with a £1m salary boost plus a stake in the equity of the company we were joining, but Arsenal chief executive Ivan Gazidis claims he faced 'the hardest decision of his life' when that offer was made to him by Inter Milan. His salary in Italy will be £3.6m.

He will be leaving the Emirates on 31st October, notwithstanding a twelve month notice period on his contract. He has been there for nearly ten years.

Gazidis has been behind a radical overhaul of the structure of the club in recent years. He sought to shift away from Arsene Wenger's autonomy as manager to a more continental structure. He wanted a framework where the manager confined himself to coaching.

He appointed nine new department heads and several long-serving backroom staff were shown the door. Gazidis had a somewhat frosty relationship with Wenger towards the end of the manager's 22-year reign. Indeed, he pretty much eased him out of the club.

Gazidis oversaw Arsenal's purchase of StatDNA, the data analytics company, which Wenger was not keen on.

It is not known whether there will be a direct replacement for Gazidis, but Josh Kroenke, son of owner Stan Kroenke, is one likely candidate. He has been in London a lot this year and has taken a close interest in the day-to-day running of the club. He could be the point man to look after his father's investment in the Arsenal franchise (as it would be seen in the US).

However, he is also president of the Colorado Avalanche in the NHL and the Denver Nuggets in the NBA, as well as alternative governor of Colorado Rapids in the MLS. These other posts in his father's sports empire means that he cannot directly replace Gazidis. Nevertheless, he will be a looming presence.

Indeed, Gazidis's workload has been split in two. Vinai Venkatesham moves from being chief commercial officer to managing director. Raul Samliehi becomes head of football, having been director of football in all but name.

Some Arsenal fans have been critical of Gazidis's role at the club. The Arsenal Supporters' Trust want to know why it took him so long to come to a decision. It may be that one factor was Mikel Arteta, his preference for head coach, being overlooked for Unai Emery.

Inter Milan have expressed their delight at the appointment of a 'world class CEO'. I suppose we now have them as well as world class footballers. Inter Milan is now owned by American hedge fund Elliott Management. He wants to transform Milan before selling his investment so Gazidis could get a windfall from his shareholding.

Wolves get raw deal from FFP

I used to see a lifelong Wolves fan for lunch once a month. He was approaching ninety, but still went to games. Sadly he passed away the other week. As football finance guru Kieran Maguire has noted, Wolves continue to be constrained by financial fair play rules. Radio 4 this morning described them as this year's 'crisis club' and the pessimists have certainly been piling in. Martin Samuel wrote sympathetically in the Sunday Times yesterday, saying that the Premier League drives talent away with regulatory red tape: 'Why could Al-Hilal sign Neves? Because Wolves needed the money. And why did Wolves need the money? Because the club had to comply with an artificial construct known as financial fair play. So Wolves are going skint, yes? No. There is no suggestion that Wolves are in financial trouble, only that they are failing to meet the rigours of FFP. Wolves’ owners appear to have the money to run the club, and invest in the club, and in fact came up with a pow

Gold standard ground boosts Tottenham's income

The gold standard in European football grounds is the Tottenham Hotspur stadium in north London, a £1bn construction project completed in 2019. Its impact on the club’s finances has become increasingly clear as the effects of the pandemic have faded. Previously, the average fan would spend less than £2 inside the ground on a typical match day, but now that figure is about £16, thanks to new facilities including the longest bar in Europe and an on-site microbrewery. Capacity has gone up from 36,000 at the club’s previous home of White Hart Lane to 62,000. The new stadium — built on land adjacent to White Hart Lane — has opened the door to a broad range of other events that have helped to push commercial income up from €117mn in 2018 to €215mn in 2022. Last year, Tottenham hosted US singer Beyoncé for five nights on her global Renaissance tour, two NFL matches, as well as rugby games and heavyweight boxing bouts. Money brought in from football has gone up too. Match day income is

Charlton takeover approved

The long awaited takeover of Charlton Athletic by SE7 Partners from Thomas Sandgaard has been approved: https://londonnewsonline.co.uk/se7-partners-obtain-efl-approval-for-charlton-athletic-takeover/ Charlton have had unhappy experiences with owners for over a decade, so how this works out will remain to be seen. There is certainly potential there, but will it be realised? This interview with Charlie Methven gives detail not available elsewhere: https://thecharltondossier.com/charlie-methven-on-the-record/

The Political Economy of Football V2

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