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Quote:
£10m kitty for Wenger
By Ian McGarry
9 December 2003
Arsene Wenger will receive an unexpected transfer kitty of up to £10million next month as a direct result of the club tying up the finances for their new stadium.

Sportsmail can reveal that the Highbury club will tell their manager that the money will be made available to him to strengthen the team in the January transfer window now that the £260m deal for Ashburton Grove has been secured.

The cash, which is currently frozen in assets relating to other parts of the property deal which are integral to the stadium project, will be freed up as soon as documents guaranteeing the finance on the new ground are signed.

An official announcement on the new 60,000-seater arena is expected to be made early next month. That means Wenger will be permitted to spend the kind of money denied him last summer, when his total outlay on players amounted to the £ 1 . 25 m it cost to bring in Jens Lehmann from Borussia Dortmund.

Wenger's priority will be a striker to take the pressure off Thierry Henry and replace Dennis Bergkamp in the long term.

A renewed bid for Seville's teenage sensation Jose Reyes is the most likely option.

An Arsenal scout watched the 20-year-old destroy Real Madrid defender Francisco Pavon in Seville's 4-1 thrashing of the La Liga champions last month, while the Spanish club have confirmed that they received two offers from Highbury last summer - the highest of which was £8m, to be paid in instalments.

Reyes signed a seven- year contract after a running battle with the club over his future during the close season and, as a result, Seville are adamant that they will not sell for anything less than £20m. The player himself, however, is enthusiastic about the prospect of a move to the Premiership and has claimed Seville are not in the position to turn down an offer for him.

Reyes said last night: 'It's true that I have a long contract with the club, but the truth is that if they receive the kind of offer they want then they would have to sell me and I would have to leave.'

Arsenal would have to increase their initial downpayment and commit to a series of other payments based on performances if they hope to tempt Seville to sell.

Wenger's fears over the future of the club will have been substantially allayed by the news that funding has been put in place for the new stadium.

With gate receipts due to more than double because of the increased capacity and number of corporate seats in the new ground, he can finally expect to increase substantially the net figure of £28.1m he has splashed out in his seven years in charge at Highbury.

Henry provided further good news for Arsenal last night when it was revealed he is winning his battle to be fit for tomorrow night's decisive Champions League Group B match against Lokomotiv Moscow at Highbury.
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All very interesting, but...

 

My boss is a shareholder at Arsenal and went to the last AGM.

 

Arsenal are hoping to get this £260m funding sorted out by the end of the year. If that happens, then building will start in January.

 

If it doesn't happen by December 31st, then the board have admitted they may need a re-think.

 

Twenty days to go, GHA, and the agreement still hasn't been signed.

 

 

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