SBD/Closing Bell

Arsenal Board Addresses Fans In "Fractious" Shareholders Meeting

EPL club Arsenal Owner Stan Kroenke, CEO Ivan Gazidis and Chair Peter Hill-Wood today took part in “a fractious annual shareholder meeting at the Emirates Stadium.” Frustrated fans accused the club’s board of “putting profit before performance” following several high-profile transfers from the club over the past two seasons. One shareholder clashed with Kroenke "over whether he had honoured commitments to meet fans" (REUTERS, 10/25).

Gazidis told the group that the club is "well-positioned to take advantage of new spending rules being introduced next year" by UEFA. Gazidis added that Arsenal is "two years away from competing financially with major soccer clubs" as the team "signs more valuable sponsorship contracts" (BLOOMBERG NEWS, 10/25).
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