Josh Kroenke has pledged that KSE will cover all outside costs relating to the Super League, rather than leaving the expenses to Arsenal.
After the welcome news that Arsenal would be pulling out of the proposed European Super League, fans have started to turn their attentions to the potential consequences of the club’s initial decision to join it.
The Daily Mail reported that Arsenal and the other founding clubs would have lost £8m each before even considering any penalty clauses.
Fortunately, Arsenal chief executive Vinai Venkatesham denied this £8m figure at the Arsenal Fans Forum on Thursday, and Josh Kroenke pledged to cover the actual costs – although they wouldn’t detail exactly what those costs are.
“Absolutely,” Kroenke said. “As I’ve stated on the call previously KSE is covering all outside costs related to the Super League. The club is not incurring anything.”
Venkatesham added: “I can’t give you the number but for your information that article about the club spending £8m on equity stakes, that number is absolutely miles out in terms of too high.”
This is obviously the least they can do. Given this decision to join the Super League was clearly driven by the owners of the big clubs, and given they’ve pretty much unanimously admitted that was a mistake, it’s up to them to cover the costs now.
But they’ll need to do more than that, as Arsenal aren’t just going to lose the money they spent joining the Super League. Their reputation is damaged, their influence has been lessened, and there could be further sanctions to come.
It’s up to KSE to address all of those issues and push the club back in the right direction.