The Good, The Bad & The David Dein
Okay, I lied - there is no good. Just the bad and the ugly.
By now we all know about David Dein selling his shares to Russian billionaire Alisher Usmanov for around £70 million. And we also know that Dein is the chairman of a company called ‘Red & White’ - how comforting.
But am I the only one who thinks this is bad, and quite frankly I can only see it getting more and more ugly as the weeks and months pass by.
It’s hard to see what the benefits of this are, and he had this to say:
“I’ve not lost my passion for the club.
“Indeed it’s greater than ever. I’ve always had the best interests of Arsenal at heart - I’ve had a love affair with the club since I was six.
“My ambition remains to play an active role in Arsenal again. My immediate intention is to work with others to provide the financial resources necessary to turn the vision of Arsenal as the world’s No.1 club into reality.
“To provide these financial resources, Arsenal need new investors.”
But whatever you might think, it doesn’t take a rocket scientist to work out that Dein wants to come back and run Arsenal but it wouldn’t be for the selfless reasons he’s publicly told the press.
Don’t get me wrong, he has done a lot for the club but how can all this so called ‘investment’ be good for Arsenal? It’s been suggested that when Arsenal’s accounts are shown later this year it will even impress the biggest business men on how much in terms of revenue generated.
The timing of the announcement couldn’t be more selfish.
It overshadowed the Champions League draw and Dein knew that instead of concentrating on who our group opponents were and it would put Keith Edelman on the back foot as he was interviewed after the draw. Then of course although it looks certain Arsene will sign a new contract the apparent ‘uncertainty’ is a great time for Dein to ‘return’ as if he would save Arsenal all by himself.
And this is going to get even uglier.
If the Arsenal board sacked David Dein for trying to get a wealthy, and apparently shrewd American businessman Stan Kroenke to takeover the club then do you think that the board will welcome unknown and quite dodgy entities in Alisher Usmanov and Farhad Moshiri?
Will all this new ‘investment’ actually make any difference? Has Arsene suddenly changed his stubborn transfer beliefs and decided to spend money on over-priced superstars instead of unearthing young talent?
And we know where Wenger and Dein stood on the Emirates Stadium issue.
Dein just wants to be the head of Arsenal no matter what it takes.
We’ll just have to see whether or not this is good or not for Arsenal.
August 31st, 2007 at 10:51 am
Dein bought his shares at £25000 in ‘83, so the idea he love arsenal and not the money is crap. And, he’s really distanced himself from the fans by doing this 30min b4 champions league draw. the russian oligarch and iranian potter as allies means this will be going on behind the scenes at arsenal and the team will suffer. And was it not dein who said of abramovich, they’ll be on the lawns with there tanks firing £50 notes? the irony, that he mimicks the russians, tries to get kroenke and then takes the money from russian……Dein your a c***
August 31st, 2007 at 10:51 am
I think that its would not be good for any takeover to happen right now. Arsene simply doesn’t need the extra money. And dein has said that there will not be any takeover soon.
But think, after arsene wenger has gone, where will arsenal be. Financially weaker than man utd, chelsea and lpool, and probably west ham, portsmouth, man city and a few others. Arsenal would find it very hard, seeing as we can pretty much guarantee that the next managr will not be as good as wenger, he’ll need the money to compete. the takeover will make us global like ac, real, barca etc. In the long term i want the takeover but not soon.
August 31st, 2007 at 11:04 am
Hey Ian7, Arsenal are financially stronger than all the clubs that have taken on board their Biilionaires and multi millionaires, these clubs are in debt up to the hilt, do you think all those money men don’t want their cut of the profits at the end of their financial year, whereas the Arsenal board have not paid out any dividends to themselves or other shareholders, by taking on Oligarch’s cash we will also end up in debt so think about it and then when you have a clear head change your tune
August 31st, 2007 at 11:18 am
Ian7 is spot on. It’s ridiculous to think in the short term about this. Arsene will not be around in 5 years time managing the team so we will need the finance to compete with the other major clubs with wealthy invetors. Of course its important to know exactly what these people want out of the club but its its also important to know what the current board want. At the moment it seems that they want their cosy little tea party to continue unchanged and they’ll kick out anyone, like DD, who doesn’t agree with that view. There are many instances in business of companies which collapse because they fail to move with the times and Arsenal must not become one of them. This club is more than the plaything of a few “old boys” who’ve been made fabulously rich by events largely outside their control. The club deserves a more enlightened view than “we don’t need foreign money” On that basis DF will soon be persona non grata too. A strong board with modern business acumen is vital.
I also disagree with the complaints about the timing of the announcement. Any time would be disruptive to some extent and the champions league draw announcement is hardly a crucial event in the calendar.
I think the board need to welcome and talk seriously with these new investors, who between them own over 25% of the club already, and forge a sensible alliance which will be to the benefit of everyone.
August 31st, 2007 at 11:33 am
in response to phil. Why does the club need foreign investment? we already are foreign when we named the stadium emirates. Also, you seem to forget that we have a need stadium unlike chavs, l’pool, west ham that is GENERATING cash, we’re ahead of the game once the loan is paid off.
And timing DOES matter. Are you saying Dein was not trying to stir trouble 4 arsenal by announcing this b4 the draw? Dein is a self centred twunt, who wanted us to play at wembley. therefore i ask u phil, are u really a gooner fan?
August 31st, 2007 at 11:35 am
Man Yoo fans feared the worse when the Glaziers came in, but they have left the running of the team to those that know the game. What happened? Man Yoo returned to the force they were before. As long as the investors let Arsene run the team and don’t interfere then lets get their money. We need to compete with the likes of Barca, Madrd and Milan, not just the top English teams. However, I would prefer Kronke as I’m not sure about the history of the russian and how his image would affect the club.
August 31st, 2007 at 11:39 am
We’re just as bad as Chelsea now!
August 31st, 2007 at 11:49 am
It may be true that Arsene might not be here in 5 years time or indeed next year!!! But the long term financial clout of the club does not rely on outside investment. The finance will be generated by the Stadium, which was the whole reason behind the move to Ashburton in the first place. I don’t think the club will be in debt for as long as the 25 year term of the loan for the stadium. Once all the flats have been built at Highbury and around Ashburton, a huge chunk of the debt will be paid off. Also the club has a clever arrangement with the banks which allows for at least £30m-£40m for transfers. Whether Arsene chooses to spend it or not is a different matter, but should his successor need the funds they will be available.
August 31st, 2007 at 11:56 am
Stu Bailey,
The fact that Utd won the league last season was due mainly to good management and luck with injuries. They hardly made massive signing last year did they? It was basically the team they already had there when the Glaziers arrived. They have spent an absolute fortune this season, but have lost key players to injury and have so many new players has not helped the team gel.
Trust the Wenger!!!
August 31st, 2007 at 11:56 am
You’re right, it makes no sense.
Why would we need all this money when we have a manager who very rarely splashes out on big players?
Does Dein know something we don’t? Is Arsene Wenger leaving?
August 31st, 2007 at 12:07 pm
You can say whatever you want but those board meeting i would like to be a fly on the wall.
August 31st, 2007 at 12:08 pm
Ian7 and Phil must hire a financial advisor to intepret the Arsenal accounts for them. But let me try. And Stu Bailey also needs a lesson in why all this is a disaster waiting to happen. Two years ago the Glazers took over Man U for some GBP800m. When that happened, it made Man U a very risky proposition because suddenly their net asset value was wiped out by GBP700m in debt and interest costs (which they did not have much of before) ballooned to GBP60m per annum. That means the club had GBP60m less to invest in players. What happened since is that the club won the league (without ANY new investment in players). The financial windfall from this plus the new TV rights deal made it possible for Man U to buy Teves, Nani, etc. The fact that they bought these players has nothing to do with the Glazers. Without the Glazers, Man U could have bought Eto’o, Kaka and Ronaldinho without raising a sweat!! Another correction, the Man U takeover did not happen because the directors wanted “new or foreign investment”. It was hostile and was triggered by Ferguson’s fight with some of the directors who then later sold their shares . and triggered the takeover. As for Arsenal’s accounts, we are actually in a better position financially than Man U was when they were taken over. The only thing a new investor will do at Arsenal is reap the benefits of a fantastically run club historically with a great stadium, fantastic revenue and profitability, and a manager who understands the business. Explain to me then, why do you need the foreign investor? So you can have debt and have less money for transfers? That is the logical result of such a takeover: cost cuts and higher ticket prices. Do not measure the investment at Liverpool and Man U over one year, measure it over the 10 year term of the debt.
August 31st, 2007 at 12:27 pm
I don’t know what to think about this really, on one hand i’d prefer Arsenal to remain the way it is and on the other hand i know that Arsenal cannot be as big as Real Madrid, Barcelona or Man Utd with the current board. I think when we were at Highbury our current board was enough but now we’ve moved to the Emirates (granted the current board got us there) and maybe now the board may be pushing above its weight? Personally i think DD does care about Arsenal but the difference between us and him is: we’re fans who think with our hearts, he’s a fan but also a business man who thinks with his head…maybe it won’t be all doom and gloom
August 31st, 2007 at 12:32 pm
In answer to les, yes I’ve been a gooner since 1967 and have seen a lot of highs and lows over the years and believe me the board have never been particularly forthcoming with transfer funds.
The future funding of the club may be secured by the fans continuing to fill the stadium by paying the highest ticket prices in Europe but once Arsene retires or goes elsewhere we proably won’t have the same emphasis on cheap team building to stay at the top. What other top coaches in europe spend as little as Him? It will be interesting to see the figures when they are released next month. It may show a good picture at the moment but I still believe we need a more professional outlook than we currently have at bord level where they want to keep it as an old pals club.
August 31st, 2007 at 12:38 pm
LB, very well written and explained!!!
August 31st, 2007 at 12:38 pm
Why can’t we move forward with Arsene Wenger and the current board? Those guys got Arsenal from Highbury to the Emirates and changed the future of the club to a much brighter one.
How many people could have got the Emirates project done in the time Arsenal did? Look at the Wembley Stadium debacle!
And David Dein is the man who wanted to keep Arsenal at Highbury! This guy is a complete joke.
This man has no ambition no matter what his Russian company says and if they manage to take control of Arsenal then god help us.
I agree with LB too - United’s success was nothing to do with the Glaziers. United were lucky that Fergie managed to win the league with no players coming in, with the lack of injuries to key players and Ronaldo having a simply sensational season.
I’m not taking anything away from them, but you are seriously deluded if you think the Yanks had anything to do with it.
August 31st, 2007 at 12:39 pm
But how can u forget Dein brought our most successful manager to my club & our club Arsenal
August 31st, 2007 at 12:42 pm
Phil, apologies 4 having a pop at being a gooner, but i still think, when wenger leaves, the stadium will be paying 4 itself (hell, they MAY reduce the prices) and therefore foreign investment will not be needed. Obv. when the new manager comes in he’ll have funds and (unlike wenger) spend them. but, i detest how dein has criticised the russian then joined. criticised the board, destabilised henry to some degree with his sons influence. I know we all need cash in this footballing age, but dein seems an A GRADE c***. Thats why i don’t want him back.
August 31st, 2007 at 12:43 pm
Phil now you say you want a more professional outlook. As far as I can see the most professional club in Europe is Arsenal. Who do u think is better run? Milan? Madrid? Barca? Be careful what you ask for, anything you get may just look right. Frankly, I am shocked that so many British people are fooled by this nonsense about takeovers being great for English football. I am not British, but if I was, I would start a protest movement to ask the government to stop it. It is disastrous, believe me. Football has never been an investor’s game and it will never be. It is about passion and love. Someone at “insidearsenal.co.uk” talked about people being stuck to tradition. Well, in fact, football IS about that. In the long term, England will be the loser. You want to win, well spend what you make. If you spend beyond your means like Chelsea, you pray every day that Abramovic does not get bored and walk. If he does, that’s the end of the club, a la Leeds. Man U and Liverpool are in the same position. If the profits do not grow “significantly”, the Glazers cannot pay back debt and the club has to cut costs and increase ticket prices by more than this year’s 14%. That means selling players. Why is this so difficult to understand???????
August 31st, 2007 at 1:28 pm
I agree Les with you, I dont want Dein back, we are just ok for now, and Arsenal’s future is brighter than Man U, Chelsea and Liverpool’s future.Last year Henry and RVP were injured( not Roonie and Ronaldo, Drogba and Lampard or Gerrard and Kuyt), and also remeber that we beat Man U(twice) and Liverpool (3 times), with a little bit of luck we can finish above Man U and Liverpool and perhaps Chelsea and win it. I would never want a russian to takeover Arsenal. Dein just wants to jeopardize the great start of the season we had. He could of sold his shares months ago, but he did it after a fantastick team play against sparta. Dein sorry, But some things just have to end, and why dont you try to takeover some russian club if you like them so much.
September 2nd, 2007 at 8:24 pm
Waleed, I hate people who constantly point to Wenger arriving because of David Dein. Yes, Dein brought Arsene to Arsenal but it’s as if all the recent success we’ve had was just down to Dein and nothing else.
Give Wenger some credit for the work he has done!
Dein loves himself and loves being in the spotlight.
How often do you see Abramovich in the headlines? Or the Glaziers for that matter?