However, for the Gunners to land their transfer unicorn it would take quite the financial effort that perhaps many are not aware of the wider consequences. That said, if Benzema came in and won the Premier League why should we care?
In short, if Arsenal did indeed win the league or the UEFA Champions League, the loan move would effectively pay for itself in some regard and the risk mitigated. However, with Mikel Arteta’s side five points off the top of the table and the Spaniard’s European record not inspiring confidence in ousting FC Porto before potential challenges like Bayern Munich, Real Madrid and Manchester City come along that risk would be significant.
Benzema’s current wage packet at Al Ittihad stands at €100million (£85.84million) per season according to Marca. Therefore, if Arsenal were to sign the Frenchman on loan today on the same terms through until June 30 – the date at which loan spells are due to end – it would cost the club approximately £38.9million if indeed they were required to take on the full pay package.
This does not take into account any potential loan fee that Al Ittihad would ask for, nor the €20million bonus that Benzema reportedly received to become an ambassador for the 2030 World Cup. Many might say this is a price worth paying to improve the club’s chances of winning a title.
However, whilst Benzema would indeed improve the centre-forward options and start for the club going forward there could be ramifications further down the line for the Gunners if they do indeed take the plunge and try to sign the forward on loan. The first is the off-field issues which have seen Benzema not turn up to pre-season training with Al Ittihad and their coach has since left him out of his plans – would Arteta be willing to take this on?
From a competitive standpoint, Benzema has nine goals in fifteen Saudi League matches. This is by no means prolific it is worth pointing out but equally, there is little doubt that he is a better and more accomplished goalscorer than the current options available to Mikel Arteta.
We must return however to the financial undertakings to understand why this would be such a gamble. Unlike a typical transfer where the fee, for example, was £38.9million over a five-year contract with a wage that fell in line with the average of the current Arsenal squad it would show very differently on the club’s books.
Transfer fees are amortised over the length of a contract up to five years. This means that a £38.9million transfer fee on a five-year contract would show up as £7.78million each year.
Whereas a wage packet of this for a loan deal would instead be invested in this year alone. Considering Arsenal are already working with the scrutiny of Profit and Sustainability Regulations (PSR) it seems highly unlikely that the club could afford an outlay like this.
Only unless they were able to make a significant sale this winter would it provide the freedom to invest more freely. This however, again, does not appear – at least at this stage – to be a possibility.
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