Arsenal warned over ‘difficult financial position’ emerging amid rising wage bill
Arsenal need to win trophies if they want to continue increasing their wage bill to keep star players at the club.
That is according to ex-Everton, Aston Villa, and Aberdeen chief executive Keith Wyness, speaking exclusively to Football Insider, after Arsenal opened contract talks with midfielder Declan Rice.
The Gunners want to offer Rice a new long-term deal to keep the 27-year-old at Emirates Stadium beyond 2028, when his current contract expires.
Bukayo Saka recently signed a new contract worth £300,000 a week, with Arsenal's wage bill the second highest in the Premier League behind Manchester City.
Arsenal 'deserve praise' for contract renewal strategy
Everton’s former chief Keith Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs - believes Arsenal need to start winning the Champions League to make their financial investments worthwhile.
Speaking on the new edition of Football Insider‘s Inside Track podcast, Wyness thinks the Gunners are "starting to hit that position" where winning trophies is becoming of paramount importance to the club.
He told Football Insider‘s Inside Track podcast: “We have given a lot of praise to Arsenal for the way that they have conducted their renewals and their negotiations with extending contracts with a lot of the players.
"And they deserve praise because they've done it timely, they've done it well, they've done it quietly and got on with it. However, it does start to add up when you keep on having to increase wages all the time.
"And unless you're winning, you know, not only titles, but Champions Leagues or getting in that level, then I'm afraid it starts to become really financially difficult. And I think Arsenal is starting to hit that sort of position."
Arsenal face Martin Odegaard obstacle
Former Man City financial advisor Stefan Borson told Football Insider that Arsenal will struggle to sell Martin Odegaard in the summer transfer window.
Borson claims there are a lack of available options for the 27-year-old, and that making any profit on the midfielder will be a tall order.
Arsenal are open to letting one first team star leave the club to raise transfer funds, with the likes of Gabriel Martinelli and Myles Lewis-Skelly also potentially leaving north London in the summer.