New stadiums hurt club fortunes, says Arsene Wenger
Arsenal manager Arsene Wenger has linked the building of a new stadium and a slump in fortunes on the football pitch
The Frenchman, whose club have not won a major trophy since they moved to the HOK sports-designed (now Populous) Ashburton Grove ground, has pointed out that a number of clubs have faced relegation after building a new ground.
‘Arsenal will be more successful by building a new stadium, but it is not easy to build a new stadium and remain where you are,’ said Mr Wenger. ‘Look at all the clubs who have built new stadiums and where they are now: Derby County; Leicester City; Coventry City; Southampton [all designed by the Miller Partnership]. They all went down.’
The London-based football club currently owes £400 million, much of which is the mortgage for their new stadium, sponsored by Emirates.
However, Wenger has helped the club`s finances in recent times by limiting spending in the transfer market, selling assets such as Emmanuel Adebayor and Kolo Toure to big spending Manchester City during the summer.
Meanwhile the future of Herzog and de Meuron’s ambitious proposals for Portsmouth Football Club look as grim as that of the team. Pundits are predicting the cash-strapped outfit will be relegated - while the stadium proposals look set to remain on the drawing board until 2018 at the earliest..