Arsenal Financial Worries Due To COVID-19 Set To Impact Transfers
Arsenal face financial worries due to the coronavirus pandemic which could in turn, affect transfers ahead of the summer transfer window.
Gunners boss Mikel Arteta is keen to bolster his squad in key areas ahead of next season but the club are under huge financial strain as a result of the coronavirus which could affect the club’s transfer budget.
This comes shortly after Arsenal’s head of football Raul Sanllehi informed staff on a conference call last week that budgets would be tight in the summer and warned that there would be no major transfer dealings for the club.
The Arsenal playing squad have already agreed to take 12.5 per cent pay cuts while their staff have also taken pay cuts to help the club financially as Arsenal’s £240m annual wage bill represents 60 per cent of the club’s turnover.
If the coming season is to be held behind closed doors, the Gunners could lose £96m of matchday revenue and the Arsenal Supporters’ Trust (AST) also reported that the club could stand to lose £144m despite income from broadcast agreements, according to the latest reports.
It’s certain that funds will be limited for Arteta as he aims to sign players in the transfer window and the club are reportedly looking at swap deals to sign players instead.