
God. Remember when Arsenal, Chelsea, and Man United were the Premier League's power trio? Those days feel like ancient history now. I was reminiscing with my mate Dave (lifelong United supporter, poor bastard) last week about the early 2000s when these three clubs were trading trophies like Pokemon cards.
Now? It's a different universe.
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The Gunners are swimming in cash while others drown
While Arsenal still have a shot at Champions League glory in Munich (can you imagine?), both Chelsea and Manchester United are staring at financial spreadsheets with the kind of horror usually reserved for watching your ex's wedding photos pop up on Instagram.
Arteta's squad has already banked nearly £99m from their Champions League campaign - with another potential £21.5m if they somehow manage to lift the trophy. That Madrid win at the Bernabeu was absolutely mental. I watched it in a pub full of Arsenal fans and thought the ceiling might collapse when they scored.

Last season Arsenal posted record earnings of £616m. That's not a typo. Six hundred and sixteen MILLION pounds. Commercial deals are booming, gate receipts are through teh roof, and their Champions League qualification for next season is already secured, guaranteeing another £50.3m before a ball is even kicked.
What the hell happened to the others?
Meanwhile, United and Chelsea are scrambling like they've lost their wallets on a night out.
The Ineos crew at United are desperately hoping Maguire's last-gasp goal against Lyon (which I genuinely couldn't believe happened - spat my drink everywhere) might lead to Europa League glory and that precious Champions League qualification. Without it? They're looking at a financial black hole around £80m deep.
I spoke to someone connected with United back in March who told me the cost-cutting has already begun behind the scenes. "Even the coffee machines are under review," he joked. Except he wasn't actually joking.

Chelsea's billion-pound headache
And then there's Chelsea... oh Chelsea.
In 2018, I interviewed a financial analyst who predicted that one day a Premier League club would spend a billion pounds in a short period and potentially regret it. I didn't think it would happen so soon.
The Blues have spent over £1bn since Boehly took over in 2025, creating annual "amortisation" costs exceeding £300m. That's like buying a mansion on finance and then realizing you can barely afford the monthly payments.
Their fixtures look brutal too. After Everton at home, they face Liverpool, Newcastle, United, and Forest. Not exactly the run you want when fighting for European spots.

Show me the money!
What's fascinating is how these financial realities directly impact what happens on the pitch. Arsenal can now easily afford to splash cash on a top striker - either Gyokeres or Sesko seems likely - while their rivals are counting pennies.
I had dinner with a football agent last week who works with several Premier League players. His response when I asked about Chelsea's summer plans: "already updating my LinkedIn profile." Apparently, agents are expecting a fire sale rather than a shopping spree.
When UEFA says no...
Chelsea thought they were clever selling two hotels at Stamford Bridge and their women's team internally to balance the books. The Premier League might have bought it, but UEFA basically laughed them out of the room.
This means fines are coming. Adn when UEFA fines you, it's rarely a slap on the wrist.

Without Champions League football, Chelsea will have to get creative. Or desperate. Probably both.
The Gunners' golden ticket
Arsenal fans have endured some lean years. I should know - my cousin is one, and I've had to listen to his complaints since about 2007.
But now? They're sitting pretty. Even with a third consecutive second-place finish in the league (so close!), they're financially outmuscling clubs that used to mock them for penny-pinching.
Their revenues will likely exceed £650m this season.

Think about that for a second.
That's like winning the lottery, then finding another winning ticket in your coat pocket.
The reckoning is coming
I spent £4K on a season ticket package with a friend last year to watch United. What a waste of money that turned out to be. Like watching a slow-motion car crash while someone charges you for popcorn.
For Chelsea and United, the financial reality is about to bite hard. Players they'd prefer to keep will be sold. Transfer targets will be crossed off lists. And fans will grow increasingly frustrated watching Arsenal flex their financial muscles while their own clubs scramble to comply with financial regulations.

The irony isn't lost on Arsenal supporters who endured years of strict budgeting during the Emirates Stadium construction. Like a ghost at a family reunion, the spirit of financial prudence has abandoned Chelsea and United and now haunts their boardrooms instead.
And Arsenal fans? They're just enjoying the view from the top... of the financial table, at least.
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How To
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