Vinai Venkatesham has explained the amount Arsenal has spent this summer.
Arsenal has been having a lot of redundancies – precisely 55 redundancies – after which the Gunners continued to carry out signings. Venkatesham admits that this has indeed been a cause of worry.
“I would be lying if I said there had not been sleepless nights,” Venkatesham said.
“This has been a really tough week,” said Venkatesham. “It is a week where lots of people have been finding out about how it all lands.”
“This is not a big organisation,” he said. “We’ve got hundreds of employees all based within 30 miles of each other. I know the people, I know their families. To make that decision was really tough but we needed to restructure our organisation.
“We hope the government announcement won’t change the aim to get fans back in the stadium on 1 October, but it’s possible that it will. Then there is the Premier League TV deal in China being terminated.
“Does anyone really think this thing is going away in two, three or six months? It is not. All of our revenue streams; broadcast, matchday and commercial will be impacted for a long time.
“At the same time, we need to make sure we are looking after the long-term health of this football club and, like any organisation, that means you need to invest.
“I understand the position of redundancies and then investing. But that’s because in other industries, the investment is made in machines. If you work for an airline, you need to buy new planes. Here, we need to invest in the team.”
See More: Top 10 Arsenal Most Expensive Signings Ever: Players Signed 2020!
