Joe Fitzpatrick 
Let us start with a brief definition of the term "asset stripping" just so that everybody is absolutely crystal clear about what I am trying to communicate to you all with this piece of rambling nonsense.
The process of asset stripping is basically buying an undervalued company with the intent to sell off its assets for a profit. The individual assets of a company are (at first glance at least) its tangible equipment like cars, furniture and electrical goods and high value land property such as a house, an office building, a housing complex, a block of flats, a shopping centre, a pub, a restaurant, land for re-development or even a great big football stadium. You would be correct to consider all of those things as assets that Arsenal posses and therefore add considerably to the value of Arsenal football club and it's holding company.
However, Intangible assets are harder to verify financially. If you were to buy say, a drug company, a record label, a film studio, a production company or even a sports team the work output and added value that certain contractually obligated musicians, singers, actors, directors, scientists, artists or sports stars provide may actually be more valuable than first meets the eye. Because although all of these highly paid staff can be a heavy drain on company resources, one genius or a very talented nucleus of bright individuals can subsidise a lot of overpaid idiots by virtue of their superhuman abilities.
Musicians can create hit records, scientists can create ingenious products or drugs for their companies to bring to market, directors and actors can create blockbuster movies and sports stars can sell tickets, merchandise, television subscriptions and then even be transferred to other teams for a spectacular profit!
My point is, if we bought Dreamworks, MGM, Disney, Glaxo Smith Kline, Microsoft, MTV, Miramax, Apple, Sony BMG, Roadrunner records, Pfizer or even McDonalds we would also be able to profit by the potential genius of our contractually obligated staff and the added value that they bring to the company.
The main reason that Arsenal presents such a fantastic investment to someone like silent Stan Kroenke is that; in no other business that I can think of, can you sell the services of a staff member to a rival company for several million pounds. I've never heard of a record label selling the services of a big name artist in a multimillion pound deal and I've never heard of a drug company selling the services of a scientist in the same fashion either. Football seems to be a unique business in this respect and in recent seasons Arsenal have sold the services of Emmanuel Adebayor for £25-30m, Kolo Toure for £15-20m, Samir Nasri for £25m and Cesc Fabregas for £35m. This summer it looks as though Theo Walcott and Robin Van Persie will be sold off to continue the trend of Arsenal losing a big name player (or two) every couple of seasons in order for them to make millions of pounds in transfer fees and avoid shattering their terribly unbalanced and inefficient wage structure.
Kroenke simply cannot lose on his investment in Arsenal because as long as Wenger can qualify for the Champions League and prepare the next two or three players for big money moves away from in the club the season after next (Wilshere, Chamberlain, Ramsey) the footballing side of the business will continue to turn a tidy profit with which to compliment the property sales of Highbury Stadium and the Queensland Road site.
Arsenal make more than any other club in the Premier League in matchday revenue which is I believe something like £3,000,000 per home game but those figures obviously rely on the 60,000 seats at Ashburton Grove being sold out and people actually attending the matches to spend their hard earned money in the shops, bars and restaurants there. At the moment it is all smooth sailing for Kroenke because all of the tickets are being sold at vastly inflated prices but, what happens if the Arsenal fans wake up and realise what Kroenke is up to and stop paying to watch one or two world class players carry the likes of Almunia, Squillaci, Djourou, Diaby, Denilson, Fabianski, Chamakh, Park and Bendtner? The answer is he will just sell to Usmanov at a very tidy profit because, as the overall debt level of the club decreases, the share price should increase and in Usmanov, Kroenke has a get out of jail free card to play whenever the mood takes him.
In the meantime expect to see more of the same from Arsenal with their shameless advertisements for fans to pay through the nose to pay for the privilege to personalise their seat, a piece of stone or maybe even the toilet seats in their block with a heartfelt message and to encourage fans to come and watch bands like Coldplay perform at the home of football. Kroenke had Celine Dion play at his Denver Nuggets stadium and obviously sees the off-season as lost stadium revenue so get used to concerts being played at the Grove and possibly even a change or two in how the ticketing system of the club operates.
Kroenke revolutionised the way tickets were sold on the websites of the St. Louis Rams and Denver Nuggets and therefore actually made the process of selling tickets to fans a very profitable enterprise in and of itself.
If the worst comes to worst and Arsenal are so mismanaged that they slip out of Champions League contention and/or Usmanov finally loses interest in the club, Kroenke could always attempt to succeed where Muhammad Al-Fayed failed with Fulham and completely flatten the stadium and build a huge residential/retail development in one of the most expensive parts of London. It's a good thing that he doesn't have a proven track record in completing that sort of a project. Oh no! Wait! He does! He developed the vast majority of the Wal-Mart sites in America and is married to the heiress to the Wal Mart fortune. Arsenal could be playing on Hackney Marshes in 20 years time while Europe's largest Asda/Walmart sits under the tallest housing complex in N5.
