Stan Kroenke’s business plan scrutinised as Arsenal tipped for late-window FFP fix, ‘I’d be stunned…’

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Arsenal have already enjoyed a busy summer transfer window, but may still have deals in mind before the deadline.

The Gunners have backed Mikel Arteta with some significant signings as they pursue the Premier League title.

Eberechi Eze has joined Arsenal from Crystal Palace, after the Gunners hijacked Tottenham Hotspur’s interest in the playmaker.

Mikel Arteta has landed other big signings, as Martin Zubimendi joined Arsenal from Real Sociedad and Viktor Gyokeres arrived from Sporting.

Arsenal have also secured Kepa Arrizabalaga, Cristhian Mosquera, Christian Norgaard and Noni Madueke in a busy summer window for Arteta.

Arsenal may have one more signing in mind, with Bayer Leverkusen defender Piero Hincapie keen to join the Gunners.

• READ MORE: What Arsenal think of Eberechi Eze after watching £68m signing in training

Arsenal sales expected before the transfer deadline

Leverkusen want around £52million for Hincapie, a deal Arsenal may not be willing to accept after a summer of spending.

Gary Jacob of The Times now claims that Arsenal are likely to snap up Hincapie on loan, with a permanent deal set up for 2026.

That would ease the financial burden on Arsenal, and GRV Media’s Head of Football Finance and Governance Content Adam Williams believes the Gunners will make sales in the coming days.

Williams suggested that Arsenal are ‘pushing the limits’ of UEFA’s Squad Cost rules as things stand.

Arsenal are ‘making a killing’ from matchday income, but player sales are still needed in order to move away from UEFA’s spending limits.

Williams noted that Arsenal may be able to squeeze in a permanent deal for Hincapie this summer, but it would be difficult to keep spending in future windows without sales.

Williams added that he would be ‘stunned’ if player sales weren’t made in the coming days, with the Kroenke family keen to see Arsenal’s margins improve as part of their business plan – as well as avoid any issues with UEFA.

“My view – and one that’s shared by quite a few people in football finance that I’ve spoken with recently – is that Arsenal are pushing the limits of UEFA’s Squad Cost control rule,” said Williams.

“It’s difficult to say for sure without seeing their financials for 2024-25, but wages and amortisation will have increased significantly. And those are the two metrics that UEFA assess here. You need player and manager wages plus costs associated with transfers to be within 70 per cent of your overall revenue for the calendar year.

“Arsenal are doing very well commercially and are making a killing from matchday income too, but has revenue risen enough to be able to accommodate the increase in spending? I think it will be very tight without player sales.

“Under UEFA’s Football Earnings test and Premier League PSR, they have loads of room to manoeuvre, and those are the two systems that have the biggest consequences if you breach. If you breach the Squad Cost element of UEFA’s rules, you’ll get a slap on the wrist and a relatively modest fine – and from what we’ve seen so far, it is only going to be repeat offenders who receive sporting sanctions.

“But either way, it’s something the ownership will want to be on top of for a number of reasons. Even if it’s a relatively small fine, the bureaucracy involved with meeting the financial targets UEFA set for clubs who breach the rules aren’t desirable. And on another level, the Kroenkes want Arsenal’s margins to improve, which keeping within the 70 per cent limit will help towards.

“So after the Eze deal and potentially now Hincapie as well, things will be tight. It’s not a reckless approach by any means because they can afford these deals, but it’s not the kind of outlay they can continue to fund in future windows without sales.

“They are sitting on probably £100m-plus of potential sales. But because profit on player sales is assessed by UEFA as a three-year average, the sales they can make aren’t going to have the same impact as they would under the Football Earnings test or PSR. So I could be wrong, but I would be stunned if they didn’t make sales before the deadline. It would be out of keeping with the business model that KSE want to implement,” he added.

Players who could leave Arsenal in the coming days

Arsenal are looking to move players out of the Emirates Stadium, just as Williams expected.

Jakub Kiwior is expected to join Porto, though that deal may be a loan deal with an obligation to buy in 2026.

Porto are now keen on Oleksandr Zinchenko and Fabio Vieira, with Arsenal hoping for movement on both players in the coming days.

Fulham appear to be backing away from Reiss Nelson, but Crystal Palace are interested in the winger.

Hincapie joining on loan would certainly ease Arsenal’s concerns, but Andrea Berta would love to offload fringe players before Monday’s deadline.