Mas­sive safety net for Arse­nal boss if change in own­er­ship

New Straits Times - - Sport -

LON­DON: Arse­nal chief ex­ec­u­tive Ivan Gazidis will ben­e­fit to the tune of more than £5.5 mil­lion (RM30.25 mil­lion) if a change of own­er­ship leads to his de­par­ture.

The rev­e­la­tion of a mas­sive safety net for Gazidis, al­ready one of the best paid club of­fi­cials in English foot­ball, comes af­ter ma­jor­ity share­holder Stan Kroenke turned down a £1 bil­lion takeover of­fer from Alisher Us­manov.

Kroenke has made it clear he is not sell­ing but Us­manov’s bid high­lights the un­cer­tainty sur­round­ing Arse­nal, with the fu­ture of man­ager Arsene Wenger still un­clear ahead of Satur­day’s FA Cup fi­nal against Chelsea.

Gazidis has been in­ef­fec­tual through­out his eight years at Arse­nal, with Wenger all pow­er­ful on and off the field.

Nev­er­the­less, he has been paid more than £20 mil­lion dur­ing that pe­riod and has that £5.5 mil­lion for­tune to cush­ion him should Us­manov buy Arse­nal out­right and axe him — or he leaves vol­un­tar­ily.

The Gazidis wind­fall is de­tailed in his ser­vice agree­ment from 2008, which en­ti­tles him to three years’ gross salary plus his an­nual bonus (£1.1 mil­lion in 2016) and £100,000 an­nual pen­sion con­tri­bu­tions.

Mean­while, ab­sen­tee owner Kroenke would have made an es­ti­mated profit of £576 mil­lion had he ac­cepted Us­manov’s bid. Daily Mail

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