Usmanov and Arsenal chief disagree on financial issues

Alsher Usmanov, the major stakeholder in English Arsenal, is concerned over the club's financial ability to support manager Arsene Wenger. TeamTalk reports that Arsenal chief executive, Ivan Gazidis, remains confident that the current financial model is sufficient, however does not wish to use 'permanent capital in an inflated transfer market.'

Usmanov failed to gain approval for his proposal regarding the issue of new shares in order to support an investment in team expansion. The board rejected the proposal on the basis that the transfer market is inflated.

Gazidis explained that Arsenal has an efficient financial structure, and that debts are being paid and surplus for investment is available. The board believes that investing in new players with the market in an inflated state would not be prudent. Furthermore, Gazidis is keen on continuing the model by which Arsenal has 'built, not bought, a team that has players who are highly sought after and valued by the biggest and best clubs in the world.'

He added that only talent that will add to the already strong club will be considered. The team added only defender Thomas Vermaelen, of Belgium, a GBP 10 million deal with Ajax.