Wenger proud of Arsenal self-funding

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The Independent Football

Arsenal manager Arsene Wenger insists Arsenal can take great pride from their policy of self-funding.

Big-spending Barclays Premier League rivals Manchester City today announced record losses of £121.3million.

By contrast, the Gunners have continued to show a healthy financial background following their move to the 60,000-seat Emirates Stadium in 2006, with the most recent figures revealing pre-tax profits of £56million with all the debt paid off on their Highbury Square development.

Arsenal's wage bill rose to £110.7million, which was 49% of the football-related turnover.

City, who bought both Kolo Toure and Emmanuel Adebayor from the Gunners during the summer of 2009, saw their wage costs of £133.3million exceed a turnover of £125million - which in any normal business would be unsustainable.

Arsenal head to Chelsea on Sunday, with the fortunes of the Stamford Bridge outfit having been bankrolled by Russian owner Roman Abramovich.

Wenger is not a fan of clubs relying on the wealth of one individual, even though Arsenal have not delivered a trophy since their move from Highbury.

"I am convinced that in every single club, what is the biggest pride of the club is to achieve the maximum with the resources we have available," said Wenger.

"That is what we try to achieve, so the situation is not really comparable to what Chelsea has done."

UEFA have approved plans which in the future will insist clubs in European competition spend only what they earn.

The financial fair play rules will require clubs to break even over a rolling three-year period if they want to play in the Champions League or Europa League.

On City's eye-catching financial announcement, Wenger quipped: "You know my position on that. I have not seen the numbers because I was in a training session, which I find more interesting."

However, the Arsenal manager added: "With the financial fair play that will come in, it will be the same level of resources for all the big clubs."