Saturday, September 20, 2008

Aresenal FC braced for a wave of cancellations from investors who put down deposits but are now unable or unwilling to raise a mortgage

Arsenal on back foot over flat sales windfall

The property slump has hit Arsenal’s hopes of a windfall from the redevelopment of their old Highbury stadium, prompting the Premier League club to say that any profit from the sale of flats would now be regarded as “a bonus”.Arsenal had earlier this year confidently predicted it would generate turnover of more than £350m from its development projects, which would have provided a surplus of up to £100m. But a more sombre view emerged in Friday’s results, in which Peter Hill-Wood, chairman, said the sale of 680 apartments “may be affected” by the property market.

Posted by jack c @ 11:02 AM (705 views)
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2 thoughts on “Aresenal FC braced for a wave of cancellations from investors who put down deposits but are now unable or unwilling to raise a mortgage

  • As a life long Spurs fan this really breaks my bleedin’ heart…..

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  • Cue Spurs fans chortling into their morning coffees.

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