Arsenal have defended a 40 percent increase in the bonus paid to chief executive Ivan Gazidis, whose overall financial package is now 2.65 million pounds ($3.24 million).
The issue was raised at the club’s annual general meeting on Monday, when chairman Chips Keswick said Gazidis was doing a “first-class job” and deserved the $1.35 million bonus despite Arsenal failing to win the Premier League since 2004.
“The appraisal of Ivan’s performance covers a very broad spectrum of objectives and does so over a longer timeframe than one season including appropriate financial targets but also assessment of our longer term progress and representation of our values,” he said.
“Ivan is doing a first-class job in leading the development of the club across every aspect of its operations.”
Gazidis is the second highest paid executive behind Manchester United’s Ed Woodward.
- Soon You Could Get Plastic Currency Notes: Find Out More
- Ranveer Singh and Vaani Kapoor Starrer Befikre Gets A Thumbs Up
- Supreme Court Seeks Centre’s Response Over Various Issues Regarding Demonetisation
- Defence Minister Manohar Parrikar Writes To West Bengal CM Mamata Banerjee
- Bigg Boss 10 December 8 Review: Swami Om Feels Cheated, lashes Out At Gaurav For Jail Punishment
- South Korean President Park Geun-Hye Impeached Over Corruption Scandal
- Former Air Chief SP Tyagi Arrested In VVIP Chopper Scam
- After Congress Vice President Rahul Gandhi, Liquor Baron Vijay Mallya’s Twitter Account Hacked
- Find Out What PM Narendra Modi Told Cabinet Over Demonetisation Decision
- Home Minister Rajnath Singh Assures Safety Of All Tourists Stranded On Havelock Island
- Government To Waive Service Tax On Debit, Credit Card Transactions Of Up To Rs 2,000
- President Pranab Mukherjee Criticises Parliament Disruptions Over Demonetisation
- Pakistan International Airlines Flight Carrying Over 40 Passenger On Board Crashes
- Shah Rukh Khan On Raees Clash With Kaabil: It’s Impossible To Have A Solo Release In India
- US-President Elect Donald Trump Named TIME’s Person Of The Year 2016
Monday’s meeting of around 150 shareholders was also addressed by manager Arsene Wenger, who gave an upbeat assessment of the state of the team who are second on goal difference in the league and well-placed to progress beyond the Champions League group stages.
“Today we are in a much more competitive position than we were five or six years ago to fight for the championship,” he said.
“I believe we have a competitive team in a very competitive league. If you look well after nine games, you can see the first trend is set. It is about 20 points and that means the championship will certainly be decided by 82-86 points.
“I think we have the squad for the first time that is more mature and better equipped to face the challenges we have.”
Majority owner Stan Kronke presented Wenger with a framed picture of his portrait made up of the names of all 210 players he has selected during his 20 years at the club.
“We know we will compete for trophies – we always have – and we would like nothing better than to see you win the league. You should be proud of the last 20 years,” said Kronke.