The £479m reason anger at Arsenal’s transfer business under Stan Kroenke has been misplaced

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Arsenal have the fourth biggest negative net transfer spend of any club in Europe’s top five leagues going back to 2012, behind the Manchester clubs and Paris Saint-Germain.

The north London club were the Premier League’s biggest spenders in this summer window, spending £149m on six arrivals including goalkeeper Aaron Ramsdale and centre back Ben White.

And according to the CIES Football Observatory’s monthly report they have a negative net spend of €558m (£479m) since 2012 having committed €1.04bn on fees while recouping €446m.

That dispels a myth that the club have not been investing enough in its first-team squad under Stan Kroenke’s ownership and will shift the focus to why the club has repeatedly ended up with players who have not been the right fit.

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In the three post-Covid windows they have made a €194m loss, spending €258m and receiving only €64m.

The top six post-pandemic are all Premier League clubs with Manchester United followed by Chelsea, Arsenal in third with Leeds United, Tottenham Hotspur and Manchester City next. Juventus are the first non-English club.

That backs up the long-held feeling that the biggest English clubs, in part benefitting from greater broadcasting revenue compared to other leagues, would be impacted less by the economic reality compared to their continental counterparts.

CIES said: “The pandemic has reinforced the domination of English Premier League clubs on the transfer market. The percentage of transfer spending of the latter in comparison to the total big-5 league clubs’ expenditure has increased from 35% between January 2012 and January 2020 to over 45% for the three post-COVID transfer windows.”

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The report also says that total transfer spend in Europe’s top five leagues – England, plus France, Germany, Italy and Spain – has fallen by 58% between 2019 and 2021. Yet the Premier League decrease of 13% pales in comparison to 74% in La Liga.

This summer compared to last has seen a small rise, however.

“Big-5 league clubs paid 2% more transfer indemnities than in the previous summer,” the report added. “The strongest increase was recorded in the German Bundesliga: +30%.”

Source by Football London

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