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We wont follow Arsenal, Chelsea & United into debt

We wont follow Arsenal, Chelsea & United into debt

Chief executive Jez Moxey has insisted that Wolves will not follow the other clubs into debt in a bid to chase glory.

In recent times running up big debts in a bid to elevate a club from its current position has been the norm.

Leeds United are the obvious example of this and once their Champions League exploits were over they soon found themselves relegated twice and in Division One.

While UEFA president Michel Platini continues to threaten to exclude clubs from UEFA competitions who run up big debts, in a bid to avoid situations like that occurring again, the likes of Arsenal, Chelsea and Manchester United continue to spend.

Saturday's opponents Arsenal have a debt mountain of £416 million, while Chelsea who we face on 21 November have debts of £701 million through owner Roman Abramovich. While Manchester United are a little less on £699 million in debt.

All a far cry from our healthy position of £25million in the bank following a payment from Sky Sports.

"From our point of view, while we`re aware of the national and international issues of football, the most important thing for Wolverhampton Wanderers is not considering whether we can compete with clubs such as Arsenal and Chelsea, or whether we`re concerned with any potential rules or regulation changes to be brought in by the central organisations, whether that`s the Premier League, UEFA or FIFA.' Jez told the Express & Star.

He continued: "Our main priority is to concentrate on staying in the Premier League and developing as a Premier League club in the medium term. That`s all we`re focused on. We can`t change the world."

Vital Wolves Comment: I have to agree with Jez, while it is tempting to plunder into the transfer market and try and grab quick success. The real challenge is to slowly build a sustainable Premier League club and if we survive in the Premier League this season, we will have made our first steps towards that.

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Writer:Akela
Date:Thursday November 5 2009
Time: 11:00AM

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Comments

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Erm, we are'nt in debt at all. We just have to pay Mr. A over unlimited years, in an interest free loan. Which Mr.A also does not expect us to pay back any soon.
JT_daniel
09/11/2009 10:11:00
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