As we speak, Arsenal are in hot pursuit of a Uruguayan striker who would shore up their attack and provide some much needed firepower in front of goal.
But this is no ordinary player. This player, despite all of his talents on the football pitch, served an eight-match suspension in 2011 for racial abuse, and is now currently in the midst of 10-game suspension for biting an opponent.
Considering his less than immaculate track record, it wouldn’t be far-fetched to assume that this might represent a perfect ‘buy low’ opportunity for Arsenal, something worth bearing in mind when you take a peek at their frugal past.
Yet, despite Luis Suarez’s indifferent reputation and penchant for human flesh, Liverpool has valued him at £50 million, and don’t seem in the mood for negotiating.
Nevertheless, after eight trophy-less years, Arsenal are desperate, and are now positioning to make a revised offer for Suarez in a deal that would shatter the previous club transfer fee record of £15 million when Andrei Arshavin arrived at the Emirates in February of 2009.
£40 million plus £1. That was the most recent bid which triggered a clause in the Uruguayan’s contract and allowed Arsenal to discuss terms with the striker.
How did we get here though? This is most certainly out of character for a club built on a “socialist model,” as Arsène Wenger so colourfully depicted back in January.
Arsenal have long preached that clubs who spend beyond their means will eventually risk ultimate demise because of the unassailable debts they acquire.
Wenger, who has a degree in economics from the University of Strasbourg, takes great pride in making shrewd signings and the grooming of younger players, treating them more like stock options than professional athletes: buying low and then selling high.
Kolo Touré, Patrick Viera, Robert Pires, Thierry Henry. World-class players who all came to Arsenal at unbeatable prices, and, in 2004, were part of Arsenal’s unbeatable team.
Wenger, for a time, seemingly had it all figured out. He was the maharishi of identifying undervalued players and exploited this to his advantage.
By the time Russian billionaire Roman Abramovich bough Chelsea in July of 2003, however, teams were already catching onto Wenger’s astute methods and soon his competitive advantage had been abridged.
Subsequently, Wenger, a long-time spokesperson for the UEFA Financial Fair Play policy–scheduled to take full effect in 2018 – was none too pleased with the influx of outside money, accusing Chelsea of “economic doping, because their resources were artificial.”
But when the global recession hit in the winter of 2008, Arsenal, having enforced a policy of only spending what they had, saw themselves in a position of power.
Many predicted that major football clubs like Chelsea would rue their overspending, and some went as far as forecasting foreclosures under the weight of masses of unpaid debt. Arsenal, perfectly positioned to reap the benefits of a crumbling market, were ready to swoop in and buy players at a discounted rate.
“Football is not untouchable,” Wenger said. “We live by people going to the stadiums and from [sponsors] advertising to people who buy products. All our income could be a little bit under threat in the next few months.”
But that day never came. The football market never crashed and people attended more games than ever, distracting themselves from the complications of everyday life. As evidenced by the 3.8% growth in Premier League attendance this past season, they are continuing to do so.
Still, Arsenal remained patient, never wavering from their ‘socialist model.’ In fact, they tightened their purse stings in order to pay back the £430 million borrowed to build Emirates stadium.
Arsenal’s chief executive, Ivan Gazidis, continued to reiterate the club’s self-sustaining model, claiming Arsenal “can and will forge its own path to success.”
But fans remained disgruntled with this tactic, seeing too many of its best players being prised away by clubs with fatter wallets.
Between 2007-2012, the sale of the club’s star players was responsible for £178 million (or over 90%) of the £195 million total profit.
Since 2003, when buying and selling players, Arsenal has recorded net proceeds of -£17 million, while Chelsea and Manchester City both have over £500 million.
In the same period, Aston Villa, Tottenham, Manchester United and Liverpool have all spent over £119 million. Arsenal, it seems, has taken greater pride in strengthening their balance sheet, as opposed to the playing squad.
But the burden of the Emirates stadium “mortgage” is slowly lifting, and Arsenal are looking to become more involved in the transfer market once again.
“The debt that we’re left with is what I would call ‘healthy debt’ – it’s long term, low rates and very affordable for the club,” Gazidis said in 2011.
Furthermore, Gazidis spoke recently of improved commercial deals that would see an “escalation in our financial firepower.”
“It is a big summer,” he said in June. “We have been working very, very hard to gain the kind of financial capability we need as a football club to be at the very top end of the game.”
Mikel Arteta said recently that it’s “about time” Arsenal got aggressive in the transfer market and a figure of £70 million was understood to have been set aside for Wenger should he wish to land a marquee signing.
So, after years of parsimony, the Arsenal faithful have watched and waited for their club to acquire one of the big fish. Yet, to this date, apart from acquiring 20-year-old Yaya Sanogo on a free transfer from French side AJ Auxerre, Arsenal has not spent a penny.
Herein lies the predicament that Arsenal, and their fans, now face. It has been eight long years since the club last hoisted silverware and the dust on the trophy cabinet has grown too thick to ignore.
Armed with money in a sellers market, they are forced to look at players like Luis Suarez to fill their needs and satisfy their fans’ thirst to make a splash.
Long have Arsenal supporters dreamed of the day that the financially conservative club would open up their chequebook. And yes, there is surely an abundance who would love to see Suarez ply his trade in a Gunners shirt at the Emirates.
But, weighing down the other side of the scales, are those who face quite a vexing dilemma: That cheering for Suarez might not really fit with the Latin inscription that once adorned the club’s crest: Victoria Concordia Crescit: ‘victory comes from harmony.’
Luis Suarez is a mercurial talent, there is no doubt about that, but he walks with the burden of a black cloud hanging over his character like the London winter sky.
Is this what Arsenal fans truly want their club to be seen as? Spending to win, by any means necessary, giving no regard to the character of the players they sign or the number of zeros on the price tag?
Whether or not they sign Suarez remains to be seen. What does seem more clear, however, is that Arsenal are finally willing to entertain the idea of spending big.
And when this happens, no longer will Arsenal fans be able to hide behind the argument that they are somehow above the overspending that is omnipresent in top-level football.
They must come to terms with the fact that their values and moral beliefs, the ones that previously set them apart from the Chelsea’s and the Manchester City’s, will be somewhat diminished. And if it’s Suarez at Liverpool’s asking price, well, possibly obliterated.
Like it or not, Wenger has always made logical decisions and has stood by his system, often to a fault. But this transfer window feels different.
Gazidis has set himself up with his bold statements, and now there is an expectation that the club must do something, even if it means taking on a player with questionable character.
So, here we are. £40 million plus £1. Arsenal fans have one indelible motif and it reads like a holy proclamation of North London.
In Arsène We Trust. Now, more than ever before, they should hope that this rings true.
Are you the ultimate team manager? Pick your own superstar team and go head to head with other football fans for glory and cash prizes on Draftstars. Imagine what you could be buying instead. Set a deposit limit.
Needing to win against Everton and hoping Manchester City lost to West Ham, the biggest cheer of the afternoon from Gunners' fans came when…
Former Premier League striker turned pundit Michael Bridges has launched a staggering attack on Manchester United manager Eric ten Hag in the wake of…
It's going down to the wire. Arsenal have earned a critical 1-0 win at Manchester United, a victory that ensures the Premier League title…
The past 18-24 months have been an enjoyable ride for Arsenal and their fan-base after almost a decade of turbulence. Mikel Arteta has been…
Kai Havertz has scored twice against his former team and Ben White also got a brace as Arsenal brushed aside a dismal Chelsea side…
Manchester City manager Pep Guardiola has slammed the FA Cup scheduling after watching his side beat Chelsea 1-0 to reach the final, three days…
