Arsenal must learn lessons of Rangers’ demise, insists chairman

Arsenal must heed the warning of the implosion of Scottish Premier League side Rangers and not spend beyond their means, the club’s chairman has warned. The Daily Record reports Peter Hill-Wood as saying the Premier League side will live within strict financial parameters.

Hill-Wood said: “Arsene [Wenger] has money to spend but there’s a limit. We can’t spend £50m on one player. We’re not going to go bankrupt in the way one or two other well-known clubs have. The Rangers example is something we have all got to guard against.

Rangers currently find themselves playing in the third tier of Scottish football after the original club effectively collapsed under the weight of debt and administration. A new entity was formed and voted in to the Scottish Third Division, but a number of the club’s big-name players left for nothing.

Hill-Wood added that his stance was not a lack of ambition but rather a prudent way of safeguarding the Gunners, insisting that he believed Arsenal could still challenge for the Premier League title this season. The newspaper however notes that a section of the club’s support were critical of Wenger for not spending more heavily during the transfer window.

Arsenal signed Lukas Podolski, Olivier Giroud and Santi Cazorla, but sold captain and leading goal scorer Robin van Persie to Manchester United and midfielder Alex Song to Barcelona.

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