Kevin Whitcher
After the near anarchy of last year’s Arsenal AGM there was a greater element of control this year. For starters, there were no microphones to commandeer until the end of the meeting when there was time for a token amount of questions from the floor. The pre-submitted questions have in the past been read out at a mic by the questioners. This year they simply appeared typed out on a video screen. So no opportunity for a follow-up if the answers were unsatisfactory. A shouted out intervention from Dame Maria Petri was quickly quashed by new chairman Sir Chips Keswick. I think Maria was going to plug the ladies’ game yesterday afternoon at Borehamwood, but Sir Chips was having none of it.
So it was predictably far less interesting then the near free-for-all of 2012. Sir Chips was similar to the now retired Sir Peter Hill-Wood in his Etonian accent and liking for a quip. In response to a question about the timing of the 2022 Quatar World Cup, he expressed the view that he doubted he would still be alive then, ironically pinpointing one of the weaknesses of the current board – it’s a little on the geriatric side. A question relating to that was answered with the declaration that the executive team below board level featured a lot of youthful vigour. Sir Chips used the word ‘invidious’ a lot too.
Stan Kroenke gave a short speech which seemed to be geared to address the perception that there was a lack of ambition to actually win things at board level – “None of us up here – players, Arsene, board, fans – no one is happy until we have won championships and trophies.” However, he was happy with the way things were going but realized that the best way to achieve success commercially was success on the pitch.
He was re-elected to the board on rotation, but there was hardly an overwhelming show of hands, many abstentions and a few voting against. Of course, he just needed to vote for himself to get re-elected even if the entire meeting decided they didn’t want him back. His wig seemed a darker shade than normal. What is it about wealthy men not wanting to admit they are follicly challenged? Donald Trump comes to mind. Stan could afford a Wayne Rooney (and with Ozil reputedly receiving over £12m a year including bonuses and image rights, the club can probably afford the Wayne Rooney), but needs to go for a shade of grey.
Kroenke introduced Arsene Wenger who gave his speech earlier in the proceedings than normal. He emphasized that the club still had to develop from within as its modus operandi, just adding the occasional icing on the cake, such as Ozil. In effect, he was repeating the message that Arsenal cannot compete with the big spenders (like Chelsea, Manchester City, PSG and Monaco) and that in the seasons to come, there would be more money being pumped into European football from outside of Europe, and that the number of teams that could realistically win the Champions League would grow, as it already had done. At no point during the hour long meeting did Wenger or Gazidis mention Financial Fair Play, a staple of recent AGMs. It seemed a bit contradictory to suggest that Arsenal were still under threat from the billionaire buying football club indulgence threat with FFP supposedly kicking in, after all the words previously used to justify the club's modus operandi from those in control at the club.
A lot of the answers to the pre-submitted questions were given by Ivan Gazidis rather than Sir Chips. I admit I found myself losing concentration during some of the longer answers, but at least he made a couple of gags, one of them off the top of his head about Gareth Bale now playing for a club that were ‘one of our rivals’. Nice to see a cheap shot at the neighbours coming from board level.
Conclusions at the end of the meeting was that it was all a bit corporate and sterile. Certainly, there was not enough time to answer all the questions from the floor at the end, and the meeting could have been extended by a few minutes to do this. But of course, it is an exercise the club go through because they have to. The issue of Stan Kroenke engaging with supporters’ groups (as he is obliged to after stating as such in his offer document on taking over) was tackled by Gazidis who stated that he met fans once a year at this very meeting. Well, yes and no. Technically, it is a shareholders’ meeting, not a fans’ forum. And no-one from the board hung around afterwards to discuss anything individually with the assembled. Arsene Wenger did his usual thing of signing autographs, but the engagement as such was limited to Kroenke’s brief address. He did not answer any questions.
However, supporters’ groups do get access to others at the club including Gazidis. It’s a lot healthier than the situation at, for example, Blackburn Rovers. It was stated that the board answered every pre-submitted question at this AGM. Certainly, all that were asked were put on the big screen, but sometimes the responses actually avoided answering the question. Why, for example, Arsenal paid over £2 million for a US based data company with a listed value of £28,000 was never answered. There was simply a waffled explanation of why Arsenal bought the company and a declaration it had no direct links with Arsenal board members. So presumably one of Stan’s pals or satellite concerns then? It all sounded a little odd. But we were reminded that Kroenke had never taken any money out of any of his sports outfits. Technically, true, but there is a smell of rodent about this deal.
There was less revolution in the ranks this year. The 2012 meeting was very emotive with the loss of Van Persie a year on from the departure of Fabregas and Nasri. And there were less physical numbers in attendance, as gradually, small shareholders cash in while their shares are still worth something. Kroenke is not obliged to buy them now and Usmanov does not seem as active on that front. Fanshare own 104 shares now, which bolstered the numbers in attendance, and are still buying. As long as Usmanov retains his holding, the AGM will continue. It was strange to have one without Peter Hill-Wood. Less entertaining on one level, but more professional. A shame the manager no longer takes questions (although he seemed to promise the return of his once annual Q&A next May – we shall see), and a pity that there were not more questions from the floor allowed. Still, the directors’ lunch in the Diamond Club was ready to be served…
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