UNTOLD ARSENAL » 2008 » August » 29

If you are reading this it is either because

a) you don’t want to read any more of the negative stuff that it pouring out from Arsenal blogs hour after hour – all saying that we are bust, we are doomed, we’re going into the Conference, no one wants to sign for us, Wenger has lost the plot, and at the next high tide the Emirates will be under water

b) you clicked the wrong button and got here by mistake

Either way, here’s the good news.

First Liverpool Weetabix (so named because the owners of Liverpool are also the owners of Weetabix – subtle eh?) are to be renamed Liverpool Insolvency.   Today, the Guardian revealed what our back of the beer mat calculations have been revealing for some time.  That Liverpool are living so close to the edge that if you were to take out the £20m gained from the Champions League even for one season, they would be technically insolvent.

Second Liverpool Insolvency have just lost their stadium.  First they had the ignomy of the EU pulling out its £5m support.  Then the Regional Development Agency pulled out.  Now they have admitted it.  They can’t raise the money to build the thing.  It’s over.  It’s off.    As is Everton’s planned ground move as well.

So while the poor, defeated, awful, lost Arsenal managed to build a rather nifty 60,000 state of the art place, the rest of the universe struggles.

Manchester Bankrupt are, well, bankrupt.  Last year they couldn’t even pay the interest on their debts.

Liverpool, Everton and Man City are struggling to pay, CSKA Fulham only survive as long as the owner doesn’t call in the loans, Tottenham’s finances simply don’t add up at all, and now….

Uefa is launching an investigation into club debts.  Oh yes.  Experts (that will be me, then) will make recommendations (clubs that can’t pay their interest should be put in the Conference – sorry that’s just me, not Mr Platini’s men).

Now, if you are still there, here is the really wonderful bit.

Platini said that he thought some clubs are “cheating when they buy players they cannot afford.”  With Man Bankrupt and CSKA F owing over £1.5bn we can guess who he means (although he also included Celta Vigo who did a Leeds.

“European football must be clean and transparent and we do not want clubs buying success on credit,” Platini said.

If he sees this through then a significant number of EPL clubs are going to be in real, and I mean really real – like big-time really big real – trouble