It’s a big transfer window for Arsenal. With record breaking transfer fees flying about, do Arsenal have enough money to spend this summer?
How big is Arsenal’s transfer budget?
It’s near impossible to answer that question with any sort of certainty. Arsenal are never going to publish their transfer budget, nor will any Arsenal official ever give a hint as to how big it could be.
That, of course, doesn’t stop the papers from taking a guess.
The ballpark figure this summer seems to be £100m, although, depending on which paper you read, that figure could fluctuate between £100m and £150m.
Surprisingly, the papers’ estimates aren’t always accurate.
For example, the reports claiming Arsenal will bid more than £100m for Kylian Mbappe also state that Arsenal have a £100m transfer budget, while also listing other targets Arsenal are going after. Some quick and easy maths suggest that this isn’t possible without finding some more money from else where.
Therein lies the big variable.
While Arsenal’s funds should be substantial, it can be supplemented further by player sales.
If we take the most commonly reported figures into account, Arsenal could sell Wojciech Szczesny and Kieran Gibbs for £15m each, which would give them an additional £30m to spend. Carl Jenkinson, Mathieu Debuchy, Joel Campbell, and Jack Wilshere could also be moved on to raise further funds. The sale of these players, and the subsequent freeing up of funds on the wage bill, could cover the cost of someone like Alexandre Lacazette.
Furthermore, there’s the possibility of first team players leaving.
Alex Oxlade-Chamberlain could be sold for £25m, Olivier Giroud likewise for £20m, and Alexis Sanchez would command a fee of £50m or more. While this money would have to be reinvested in replacements, it would mean that Arsenal’s starting budget would remain untouched.
Another factor to consider is the loss of revenue from the Champions League. While money from the TV deal will soften the blow, Arsenal’s budget could still shrink to compensate.
Even then, you’d like to think that Arsenal have enough to secure their main targets this summer.
With the likes of Everton potentially spending a £100m on players this summer, and the likes of Bournemouth signing a player for £20m, something would have to be very wrong for Arsenal not to be able afford the likes of Lacazette and Thomas Lemar.