Arsenal off-pitch update as £40m Man United development confirmed

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Over the last two seasons, the mood at Arsenal and Man United could hardly have been any different.

The arrival of Sir Jim Ratcliffe as a substantial minority investor has perhaps halted the malaise that has settled in at Old Trafford.

However, there is still some way to go before they catch up to Arsenal on the pitch.

The triumvirate of Mikel Arteta, Edu Gaspar and Josh Kroenke has yielded two consecutive 2nd-place Premier League finishes.

What’s more, the ownership regime appeared to have temporarily abandoned their self-sufficient philosophy, bankrolling losses in recent years to finance blockbuster signings like Declan Rice.

The Kroenkes see Arsenal as a capital appreciation project and will ultimately revert to a more conservative approach once again.

However, it is encouraging for Arsenal fans to see investment with a view to making the club more competitive on a sporting basis.

Unlike Man United, the Gunners have had no lingering anxieties in terms of compliance with the Premier League’s Profit and Sustainability Rules (PSR) of late.

And now, a new development has reinforced the current contrast between the two English juggernauts.

• READ MORE ARSENAL NEWS: Why Arsenal target Mikel Merino is not playing for Real Sociedad on Friday

Arsenal will question Man United’s ‘exceptional’ Covid claim, says expert

Finance expert and former Man City advisor Stefan Borson caused quite a stir earlier this week when he highlighted the fact that United had attributed £40m in lost revenue to Covid in 2021-22.

As Borson explained, that is far higher than any other clubs to have disclosed how much Covid allowances they claimed, which were deducted from their PSR calculation.

Arsenal claimed more than £100m in relation to the pandemic, but the vast majority of that figure came before the 2021-22 campaign, which was largely unaffected by Covid restrictions.

United have confirmed that their £40m 2021-22 was made up of lost pre-season tour revenue, as well lost cash from commercial partners impacted by coronavirus.

However, Borson has questioned the apparent disparity between United and every other Premier League club.

Of all the top flight teams beside United to have disclosed their Covid allowances for 2021-22, Everton’s was the highest at £8m.

Writing via X, Borson pointed out that Arsenal, who operate on a similar commercial plane to United, posted Covid losses of just £2m.

Alongside an excerpt from Arsenal’s accounts, Borson said: “I suspect Arsenal are wondering how United got to a £40m Covid financial impact in 2021/22 when their impact was a TWENTIETH of it…”

TBR Analysis: Have Man United received preferential treatment over the likes of Arsenal?

Borson was quick to emphasises that, rather than alleging Premier League corruption as some of have suggested, United’s Covid claim suggests an issue with the PSR system.

Many clubs have been unable to claim allowances for lost sponsorship income as a result of geopolitical events outside of their control, for example.

Arsenal could have chalked up greater losses to Covid than they did in 2021-22, but – as some commentators have suggested – that perhaps indicates naivety as opposed to duplicity or misconduct.