We have from what i have read and its been posted in here a few pages back, that we have £154mill sitting in cash reserves.
Cash reserves generate revenue, cash in owners banks means nothing to Arsenal revenue, interest on cash in Arsenal accounts generates several million extra a year. The money is THERE and NOT removed by the owners. The club is not hugely profitable for the owners, when will people simply understand and listen to that.
The club still has circa 250mil of debt(well that was last year). People are talking about sub 100mil debt because they consider the cash in the arsenal bank account, IE 250mil debt - 150mil cash reserves is spoken of as sub 100mil debt.
The money is there both as a way to generate a few extra million and as an emergency. Arsenal were borderline profitable in the last couple years WITH player sales, who do we have left who is worth what Cesc, Nasri, RVP were, or even temporary form younger players like Adebayor, or Toure to sell off for 25mil + fee's?
What happens if we get no champs league next year. We still have 15-20mil required per year for debt. You have this money in an account so if we drop out of the champs league and suddenly start making 20mil losses a season, that money AND our debt repayments come out of cash on hand and Arsenal don't get into financial trouble.
Spend 150mil tomorrow, miss out on the champs league and start making 40mil losses every year(debt + actual losses).... where do we end up.
The stadium debt is around for another 10 years, its making minor effects on our profitability, its massively increased our income yearly, but not keeping money on hand to cover any financial problems is utter financial suicide.
The 154mil on hand is nothing more than the money we've put towards paying off the debt, most of it shouldn't be touched at all. When the debt is entirely manageable and mostly paid off that money can go back into the club to be used as needed. The entire 154mil isn't currently required to secure financial safety, hence them saying 70mil is available to spend.