Arsenal chief executive Ivan Gazidis: We need a strong business to build a team capable of challenging for silverware

Arsenal’s new CEO Ivan Gazidis, formerly a big player with Major League Soccer

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Arsenal chief executive Ivan Gazidis says the club need “a solid financial basis” on which to build upon in order to win silverware.

After the defeat to Birmingham City in the League Cup final on Sunday, the club are still yet to win silverware since their 2005 FA Cup win.

The Gunners have been in impressive form this season, challenging Manchester United at the top of the table, but Sunday’s defeat to Birmingham has raised new questions about the maturity and mental strength on the side.

After revealing that Arsenal have lost a total of £2.5 million over a six-month period, Gazidis is adamant that if the club want to challenge for trophies in the future, then they need to get their finances sorted first.

He said: “Of course, we are all desperately disappointed and we were hoping we would do better on Sunday.

“We’ve got a very young team. The average age against Barcelona was just 23 and what we’re focused on is making sure we keep the key talents in the team together and signing them to long-term contracts. It’s not about profits. The currency we evaluate ourselves with is pride, the pride we create among our fan base.

“That is driven certainly by trophies but by far more than that. The reason we have to have a strong business is that it gives us the platform on which to create that pride.

“It gives us a solid financial basis on which to plan for the future with confidence.”

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