Arsenal’s owner, Stan Kroenke, refinanced the club’s debt in order to fund a £45million move for Atletico Madrid star Thomas Partey.
The Ghanian signed a long-term deal with the Gunners on deadline day after the club activated a release clause in the midfielder’s contract.
The £45m fee had to be paid in a lump sum and Arsenal waited until the final day of the transfer window before activating the clause as they were keen to raise as much funds from player sales before signing off a deal for Partey.
Arteta was well aware he’d have to operate on a limited budget this summer and he felt the signing of Willian on a free transfer was necessary given the lack of funds available to him.
After signing Willian, Gabriel and handing Pierre-Emerick Aubameyang a new long-term contract, the club had hoped to pay for Partey through offloading the likes of Matteo Guendouzi, Mesut Ozil, Sead Kolasinac and Mohamed Elneny.
However, the club failed to raise any funds for the quartet and Arteta was forced into making a special request to the club’s Kroenke owners, according to the Athletic.
The owners accepted Arteta’s request and funded the deal by refinancing the club’s debt and by providing funds of their own to get their transfer over the line.
It’s testament to the club’s growing belief in Arteta that they were willing to do so.
The Gunners spent big on Nicolas Pepe last summer but only after selling Alex Iwobi for around £40m and they feel more confident in Arteta’s decision-making to back the Spanird over such a big money transfer.
The owners’ hands-off approach has been heavily criticised in the past but they’ve shown with the signing of Partey that they’re willing to dip into their own pockets.
Partey’s arrival has certainly been well received among Arsenal’s squad, who believe the Ghanian is a significant improvement on their current options.
Arteta wanted to sign Lyon playmaker Houssem Aouar but the Frenchman decided to prolong his stay at the Ligue 1 club by another 12 months.
Source: Read Full Article