Ask fans of the MLS franchise Colorado Rapids what they think about Arsenal’s failure to sign a world-class striker in the January window and you’ll get chapter and verse about how the Kroenke Sports & Entertainment have abandoned them.
By most estimations, the Rapids are the least valuable franchise in the MLS, a league where valuations are skyrocketing almost everywhere else, reaching beyond the £1bn mark in some case.
The Gunners’ failure to sign a world-class striker who could steer them towards a first Premier League title is a familiar tale for the Rapids, who are badly in need of investment in infrastructure and players.
Arsenal unsuccessfully bid for Ollie Watkins, with the North Londoners falling well short of Aston Villa’s £60m appraisal of the 30-year-old.
Throughout the window, Mikel Arteta’s side were persistently linked with Alexander Isak, who will line up against them again in tonight League Cup semi-final second leg at St James’ Park.
Again, the Magpies’ circa £150m valuation of the Swede with 17 Premier League goals this season was never going to be met by Arsenal.
Stan Kroenke and his deputies have since been accused of being too risk-averse in the transfer market.
But why? It certainly isn’t because of the Premier League’s Profit and Sustainability Rules (PSR) or UEFA’s equivalent. They have acres of headroom under both systems.
New Champions League format partly to blame for Arsenal’s January failures, says expert
According to Maguire, Arsenal’s failure to sign a top goalscorer can be partly attributed to the lucrative but logistically complex new 36-team Champions League format.
“I can see the logic of Arsenal’s approach,” the Price of Football author and industry insider said in exclusive conversation with TBR.
“Don’t pay a tax because you’re desperate to win a competition. There will be a significantly higher number of strikers available in the summer market than there is in January.
“Because of the expansion of the Champions League, you have still got 24 of Europe’s best teams in the competition. In theory, that means 24 sets of strikers are already tied up.
“The players don’t necessarily want to leave and the clubs don’t want to ruin their chances in thew Champions League, which you can get an extra £8-9m for going through to the knockouts, plus gate receipts and sponsorship on top of that.
“I know it doesn’t go down well with fans, but Arsenal’s focus from their perspective is on finishing top four. Arsene Wenger always used to say that is their ambition- and it still is.
“They certainly have the capacity to spend in the January window, but why gamble? Liverpool didn’t sign anybody in the January window either. FSG out is still a trending topic on Twitter.
“They are right to ignore the noises – and there is a lot of social media noise.
“There is perception that spending big delivers success, but that isn’t the case. The two biggest spenders in 2024-25 – Man United and Brighton – are 10th and 13th.“
How much have Arsenal earned from the Champions League format Stan Kroenke lobbied for?
The new Champions League format was introduced to placate the rebel clubs – including Arsenal – who launched the failed breakaway European Super League.
Ultimately, the collective will of supporters from North London and beyond proved too much even for KSE, who pulled out after mass protests at the Emirates.
Arsenal fans protest against the European Super League and Owner Stan Kroenke outside the stadium prior to the Premier League match between Arsenal...
Photo by Jacques Feeney/Getty Images
In public, the owners involved in the plot talked as though there was a lot of soul searching going on behind the scenes. In private? They were fuming.
The competition was backed by £2.7bn in funding from JPMorgan Chase, who incidentally were the bank who helped broker Kroenke’s takeover of Arsenal and who sponsor a suite at the Emirates.
Had it been successful, the European Super League would have transformed the revenues of the 12 clubs involved, with Arsenal among those who would have banked the most.
The project has since been relaunched under the banner of the ‘Unify League’ but the UK government’s plans to introduce an independent football regulator will make it impossible for the Gunners to sign up.
Infographic explaining the powers of the independent football regulator
That may be partly why Arsenal vice-chair Tim Lewis is so opposed to the regulator, although his objections have been dressed up as free-market sentiments.
In any case, the original Super League has indirectly benefited the North Londoners’ finances as the threat of the breakaway has caused UEFA to placate Arsenal with the new Champions League format.
After finishing 3rd in the Swiss system league table, Arsenal have earned around £75m in prize money, which is more than they earned for reaching the quarter-finals last season.
In fact, Real Madrid, who defeated them in the last-eight, earned less for winning the competition last season than Arsenal have already made in 2024-25, illustrating how lucrative the new format is.
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