Football News
Hill-Wood calm over Champions League bid
Arsenal chairman Peter Hill-Wood insists it would not be a catastrophe for the club should they fail to qualify for next season's Champions League. The Gunners are currently fifth in the Premier League table, five points behind Aston Villa - despite Robin Van Persie's late equaliser at Everton on Wednesday. Hill-Wood reckons that Arsenal's failure to finish in the top four would come as a significant blow to the club's finances - but is adamant it would not be a disaster for the club.
Speaking to the Daily Mirror, Hill-Wood said: "There is no denying that it would be a real financial drain on the club if we didn't qualify for the Champions League next season. Even if we were in the UEFA Cup and enjoyed a long run, that would not come close to making up the shortfall.
"But although missing out on the Champions League for one year would be a big disappointment, it would not mean financial Armageddon for Arsenal.
"When we worked out our budget, and did our fund-raising calculations in respect to the new stadium, we did not assume we were going to be in the Champions League every season.
"So although it would certainly hurt us in the pocket to finish outside the top four, it would not be a huge shock to the club's finances."