Arsenal's remarkable journey from also-rans to the summit of English football has a cast of celebrated heroes, from manager Mikel Arteta to star player Bukayo Saka. However, according to a leading football thinker, the true architects of this revival are the club's owners, the Kroenke family.
The Quantum Leap in Ambition
Alex Fynn, author and a key figure in the creation of both the Premier League and Champions League, credits Stan and Josh Kroenke for a fundamental shift in the club's philosophy. He identifies their willingness to take significant risks as the primary catalyst for Arsenal's current position as Premier League favourites.
The owners abandoned a strict model of self-sustainability, instead choosing to aggressively back their then-novice manager, Mikel Arteta. This support has been financial as well as philosophical, with the club investing over £700 million net in player transfers over the past four years.
"There's been a quantum leap, a change of attitude," Fynn stated. "Great credit must go to the owners. They've changed, from self-sustainability to ambition. They took a gamble. They backed a novice manager, and have backed him all the way."
Accepting Loss for On-Field Success
This ambitious strategy has come at a cost. Since taking full control in 2018, Kroenke Sports and Entertainment has subsidised six consecutive years of losses, totalling £328 million. This stands in stark contrast to rivals like Manchester City, who posted a profit.
Fynn argues that this readiness to prioritise sporting success over immediate financial gain is what sets the modern Arsenal apart. "Their priority now, credit again to the owners, is success on the field, and they're prepared to accept a loss," he explained, noting last year's £18 million deficit was manageable compared to other clubs.
This backing has enabled Arteta to transform the club's mentality and build a squad capable of challenging for the biggest honours. Fynn's new book, 'Arsenal: On the Edge', chronicling the 2024/25 season's title challenge and Champions League semi-final run, is described as a "love letter" to everyone at the club.
A Potential Dynasty in the Making
With Arsenal leading the Premier League and contending in Europe, Fynn believes this could be the start of a sustained period of success. He suggests that if Arteta guides the team to its first league title in 22 years, he would enter the same pantheon as the legendary Arsene Wenger.
"We'll see an Arsenal dynasty," Fynn predicted, while acknowledging the fierce competition from Liverpool and Manchester City. He cautions that last season's near-miss might still represent the peak, but the club's current trajectory suggests otherwise.
Ultimately, Fynn concludes that the Kroenkes' gamble has already yielded a "huge achievement" by restoring Arsenal to the elite, proving that a bold change in ambition can redefine a club's destiny.
