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Arsenal have green light for January signings after Stan Kroenke talks with Mikel Arteta

Adam Williams

Mon 2 December 2024 20:45, UK

In previous seasons, 2nd place in December would be seen as a roaring success for Arsenal. In that sense, Mikel Arteta is a victim of his own success ahead of the January transfer window.

After Saturday’s madcap 5-2 victory at West Ham, the Gunners are nine points behind Liver𒁏pool but have lost just twice. Their four draws meanwhile came against the four other sides in the top five.

Position	Team	Played MP	Won W	Drawn D	Lost L	For GF	Against GA	Diff GD	Points Pts
1	LiverpoolLiverpool	13	11	1	1	26	8	18	34
2	ArsenalArsenal	13	7	4	2	26	14	12	25
3	ChelseaChelsea	13	7	4	2	26	14	12	25
4	BrightonBrighton	13	6	5	2	22	17	5	23
5	Man CityManchester City	13	7	2	4	22	19	3	23

But Manchester City’s implosion in recent weeks means the prevailing feeling at the Emirates is one of a potential missed opportunity to end their 21-year wait for a Premier League title.

Arteta’s side 🍒can bemoan some abysmal luck on the officiating front, however. And the Spaniard will be telling his players – and himself – that the league leaders’ astonishing form can’t last forever.

Interes𝓀tingly, both sides had relativ﷽ely modest summers.

In terms of finance, Liverpool ended the summer with a small positive net spend, while Arsenal were only in the red by around £20m.

For Arsenal in particular, this is a reversion to type. Stan Kroenke has a❀lways wanted the club he owns to be self-sufficient – i.e., only spend what they earn.

The last few years have been a departure from that model, with Arsenal’s spending on recruitment and retention outstripping their revenue.

But with Arteta’s side likely to be – at the very least – outsiders in the title race at the turn of the new year, could Kroenke put his hand in his pocket again in January💧꧂?

TBR Football�� spoke to Liverpool University football finance lecturer and industry insider Kieran Maguire to assess how things are shaping up at ඣthe Emirates.

• READ MORE: £616m reveal shows exactly how 🐎Arsenal are preparing for Emirates Stadium expansi𒁃on

Stan and Josh Kroenke will sanction more investment, says finance expert

A📖fter the international break in November, A🤪rteta revealed that he had held his annual set of talks with Stan Kroenke.

“It’s always reall♚y positive to spend time together,▨” he said, as quoted by .

“We had time to talk about th🔯e windows and we’re taking the club after Edu. It’s a joy to spend time wi♐th them.

“They have so much experie♔nce in the sport. You feel the ambition and how close they liv🅷e every day with us.”

That bodes well for January, suggests Maguire.

“We’ve seen Arsenal make January signings in the last few years,” the Price of Football author observed.

“They signed Trossard in January and tried to sign Caicedo in January.

Arsenal’s January signings under Mikel Arteta

“They have the ability to sign. Now, it’s about looking at things from a qualitative view rather than quantitively.

“If they are bringing someone in, for example, are they going to be cup-tied?

“There’s been a sea change on the spending front. I think it is because Josh Kroenke is now more involved. He seems like more of a ‘soccer’ man than his dad, who seems to really want to be a very rich rancher.

“There is a new Arsenal now. You only have to look at the expenditure in recent windows as evidence for that.

“They have shifted the deadwood out of the club in terms of higher earners with low performance. That has given them flexibility and leeway.

Also, with two season in the Premier League title race, they have realised just how addictive it is.

“They had a long period of time without Champions League football. I think the guys in charge forgot just how critical it is with regards to what is happening on the pitch.”

• READ MORE: Arsenal could b🉐attle Chelsea after Josh Kroenke confirms £137m windfall on the line

Arsenal’s PSR status: Do Premier League spending rules allow Gunners to spend in January?

Crucially, PSR (Profit and Sustainability Rules) is not an issue for 💛Arsenal.

Arsenal lost £52.1m in the last recordedไ financial year but their deficit is expected to narrow for 2023-24 thanks to their participation in the Champions League.

With allowable costs factored in, the Gunners likely have well in excess of £100m o🧸f🀅 PSR capacity going into January.

In layman’s terms, that means they could record a £100m-pl🐷us loss for 2024-25 and still not fall foul of PSR.

For all int♋ents and purposes, that gives Arteta the freedom to spend whatever the Kroenkes give him in January.