By Dr Dan Plumley

17th May, 2022 | 10:43am

Finance guru analyses Arsenal business 'horror story' - 'we were warned about this'

It is no surprise to see the market price of the Arsenal fan token plummet in recent weeks.

That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the risks involved in football’s dalliance with cryptocurrency.

Arsenal partnered with fan token firm Socios in July last year, as did dozens of other top-flight teams in the UK and abroad.

The company purports to give supporters the chance to influence club matters through the tradeable digital currency.

Many analysts, however, claim that the voting rights offered through Socios are superficial and not worth the financial risk inherent in the investment.

Data taken from Coin Market Cap shows that the Arsenal token has fallen to $1.30 in value having opened at north of $6.00 last summer.

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Plumley claims that the price crash was inevitable and another example of the “horror stories” seen elsewhere.

“We were warned about this,” the Sheffield Hallam University expert told Football Insider’s Adam Williams.

“It was always going to be a huge risk. All these deals that are being signed are a risk.

“This one hurts a little bit more because it is fans who have put the money in and are now losing it. It’s really upsetting for the fans.

“It’s just another example of this being a present danger. You see horror stories of people losing life savings and all sorts.”

Arsenal generated £136.4million from commercial streams last season.

Mikel Arteta’s side need Tottenham to lose at Norwich City on the final day of the season (22 May) to qualify for a lucrative Champions League spot.

In other news, Blackburn Rovers and Bristol City race to sign Arsenal starlet Ryan Alebiosu.