“Arsenal have no money to spend in January” has been continually written this summer by, many journalists. This theory, however, is a miss-truth
Arsenal do have money to spend in January.
In years go by, we have hear Ivan Gazidis say “we are keeping our powder dry”. Last summer we certainly did not keep our powder dry for January. We spent almost every penny that was available.
In total, we spent over £70million. With just a couple of million coming the other in, we had the 4th highest net spend in the league. Only West Ham, Fulham, Chelsea and Liverpool spent more.
Due to a lack of player sales and consistently poor player sales over a long period, Arsenal were unable to generate further funds to buy in more players.
Manchester United, Manchester City & Tottenham all spent less than us once player sales were taken into account.
It should be seen as a positive that Arsenal did not keep some of their summer transfer budget aside to buy someone in January. It meant that we started 2018/19 with the best squad that we financially could.
Despite this, we still have money to spend in January.
Where will this money come from? You ask.
It is fairly simple. We have a budget. We know what money is coming in (commercial revenue, gate receipts, TV money, etc) and what money is going out (wages, player amortisation, running costs of club). It is the money that is in between that determines if you can increase expenditure (buy more players, increase wages) or whether you have to cut costs (sell players).
Arsenal will already know what they have available to buy players in the summer. The money available in January will come from that budget.
What Arsenal need to do, however, is spend sensibly.
Every penny spent in January is one penny less to spend in the summer. That means we need to buy the right the player. Someone who we would have bought regardless of what transfer window it is. What we will not be doing is panic buying. Going for a short term option that then takes out key funds to purchase preferred players.
Lets put it another way.
Say Sven, Raul and Unai have discussed things. They have put £40million aside to buy a central defender.
They will not care if that £40million is spent in January or the summer. What they care about is it is spent on the right player. Someone who will perform in an Arsenal shirt for years to come.
What they will not do is spend £10million on a stop gap defender, who might only be required for 6 months.
This £10million signing would then reduce the budget for the summer. So instead of going for a £40million defender in the summer, we can only go for a £30million one.
So Arsenal do have money to spend this month. It just needs to be spent on the right player; and not a short term stop gap.