Arsenal’s majority shareholder Stan Kroenke has backed the Gunners’ self-sustaining business model, as well as manager Arsene Wenger.
The club’s other main shareholders have voiced concerns over a lack of spending power and the side’s struggle to match the likes of Manchester City and Chelsea in the transfer market.
But American businessman Kroenke believes frivolous spending does not guarantee silverware and has praised the efforts of Wenger during his 15-year tenure at the club.
“Anybody who is a sportsman would rather compete on the basis of intellect and cleverness rather than being able to throw money against the wall,” Kroenke said.
“Anyone can go and buy a player, but it takes a lot more to identify that player, develop that player and position him.”
“You look at Arsene as a good example. He has been here 15 years and you look at what the club had as assets and revenues – it’s fantastic the growth that has occurred.”
“For the long term stability and an approach to excellence, I think that’s unsurpassed really. That’s my view.”
Gunners fans were upset during the off-season with the departures of star players Cesc Fabregas and Samir Nasri, but Kroenke insists the sale of the duo was not reckless business.
“I think you know that one of the players who departed had nothing to do with money,” he said.
“There was a specific personal circumstance that happened. Maybe I am saying too much. That has nothing to do with money.”
“The other player departed for money. Well then, you get into an evaluation. That’s where being smart and not being smart comes in.”
“You’ve got one year left on a players’ contract. You’ve got a large sum of money being offered. That’s how I would see the evaluation.”