The Times’ specialist correspondent Ashling O’Connor writes that the club is to undertake a strategic review which could prompt a listing to coincide with the opening of its 60,000-seat Emirates Stadium.
The club is currently listed on the troubled Offex market where its shares, described as extremely illiquid, currently trade at around £2,700.
Arsenal is currently valued at £157million, well below the £732million market capitalisation of fierce rivals Manchester United, themselves a recent take-over target.
The London club, which had an operating profit of £36.2million of turnover of £157million compared to United’s £58.3million (£169 million), has been handicapped by the size of its historic but nowadays inadequate Highbury stadium where capacity is only 38,000. While the new stadium’s capacity will not match that of Old Trafford, the additional match day revenue will narrow the income gap between the two.
The new stadium was the subject of a £90million naming rights deal with Emirates Airlines, which is currently an important sponsor of London rivals Chelsea.
