No, it is not a deal where Arsenal have signed or sold or player for £25million (although I wish I were writing about such a deal at this moment in time). It is however a deal which is going to benefit Arsenal in the long run.
Arsenal have signed a £25million deal for a residential property project with Barratt Developments. The multi-million pound contract will see Barratt construct 375 homes at the Emirates Stadium, a deal which could eventually be worth £128million. Work on the project is expected to begin in January 2012.
Arsenal director, Ken Friar said, “This is the last piece of the jigsaw in our new stadium project which has delivered huge regeneration to the Borough of Islington. 2,500 new homes and 2,500 new jobs have been created over the past six years. I am proud that we stayed in Islington and proud that Arsenal has helped contribute to the local community in this way.”
Alastair Baird, regional managing director of Barratt London, said, “The homes will be situated literally yards from the stadium and we expect them to become as sought after by Gunners fans as the properties at Chelsea Village are by Chelsea supporters.”
This is a great move for the club as a whole as it will generate more much needed revenue for the club. That is one thing I love about Arsenal, we know how to manage our finances well. When these new UEFA Financial Fair Play rules come into effect, we are going to be okay, unlike Chelsea who live off Roman’s money!