Arsenal has this year made no £3M ($3.8M) payment to the company of majority Owner Stan Kroenke "for the first time since 2013," according to Jeremy Wilson of the London TELEGRAPH.
A fee was registered in the annual accounts in both '13-14 and '14-15 "in relation to services provided by Kroenke Sports & Entertainment but that payment does not appear in the accounts that have just been lodged" at Companies House for '15-16.
No official explanation has been given for the change but it is understood that the club "is still receiving the same range of services from KSE and the fee has simply been waived this year." It follows letters from other shareholders, notably Alisher Usmanov and the Arsenal Supporters’ Trust, "asking for a full clarification, as well as a series of questions at the past two annual general meetings" (TELEGRAPH, 10/4).
BONUS PAY: In London, Charles Sale reported Arsenal CEO Ivan Gazidis "received an extraordinary annual bonus" of more than £1M ($1.3M) in a year when the club won no silverware and commercial revenues were flat.
In total, Gazidis was paid a package of £2.648M ($3.4M), "making him the second highest paid football club executive in the Premier League" behind ManU Exec Vice-Chair Ed Woodward.
The numbers "are included in the Arsenal club accounts sent to shareholders." Gazidis's pay rose by nearly £400,000 ($509,000) for the year ending June '16, despite Arsenal's lack of success (DAILY MAIL, 10/4).
