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Arsenal Chair Threatens To Stop AGM As Fans Demand Answers Over $4.7M Payment

Arsenal Chair Chips Keswick "threatened to close the club's fractious annual general meeting" after fans and officials "locked horns" over a £3M ($4.7M) payment made to Kroenke Sports & Entertainment -- the company belonging to the majority shareholder, Stan Kroenke, according to Amy Lawrence of the London GUARDIAN. With Arsenal supporters "paying the highest admission prices in the Premier League," the £3M fee in return for unspecified "strategic and advisory services" has become a "bone of contention." Shareholders in attendance at the AGM repeatedly "pressed for details of the payment," but the "ambiguous response from the club's board prompted increasing frustration from supporters, and disdain from the top table." Keswick sought to explain the payment "without giving insight into the specifics of the specialist advice" Arsenal received. Keswick: "I felt it was right to pay a fee for a wide range of services provided by KSE." That "provoked heckling from shareholders who wanted to know exactly what services were part of this transaction." One question from the floor "summed up the mood" of mistrust: "Is there a written contract or is it like Platini and Blatter's verbal agreement?" Keswick was "noticeably piqued" and responded, "I am not Mr. Platini, I am not Mr. Blatter, and there is not a written whatever-you-wanted because as I have explained, good advice is where you can get it and how you get it and if you get good advice then you succeed. If you don't get the right advice, then you fail" (GUARDIAN, 10/15). 

WENGER LEGACY: In London, Rory Smith reported Arsenal Manager Arsène Wenger has "given the first hint he is starting to contemplate his legacy at the Emirates Stadium." Speaking at a "stormy edition" of Arsenal's AGM, Wenger insisted he is "absolutely committed" to seeing out his contract, which expires in '17. Keswick also "made clear that he and the board remain convinced" Wenger is the "best person to take charge of Arsenal for as long as he feels inclined." Wenger's defense of his side's recent Champions League record was "robust enough to indicate he is by no means ready to lay down the cudgels just yet." Wenger: "I am resolute and absolutely committed until the last day of my contract to bringing big success back to this club." Like Arsenal CEO Ivan Gazidis, Wenger was "quick to dismiss his reputation for parsimony" in the transfer market, insisting he is "not scared to spend money" despite failing to add a single outfield player this summer. He said, "I know I have that reputation, we have shown in the last three years that if the player has the quality we spend the money" (LONDON TIMES, 10/15). Also in London, Rohan Banerjee wrote Gazidis "echoed Wenger's sentiments and told fans that there is a clear strategy behind everything that is being done." Gazidis: "We won't be successful in a never-ending arms race by outspending our opponents. We won't spend money or waste it just to appease commentators" (DAILY MAIL, 10/15). 

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