Cristiano Ronaldo to Arsenal Transfer Reportedly Collapsed over Cash Troubles

Forging an Arsenal team that went through an entire league season unbeaten has arguably been Arsene Wenger’s standout managerial achievement. And that remarkable team might have become even better had it not been for a financial calamity that cost the Gunners their chance of signing Cristiano Ronaldo.

According to John Cross of the Daily Mirror, citing his upcoming book Arsene Wenger: The Inside Story of Arsenal Under Wenger, while things looked rosy on the field in 2004, behind the scenes there were serious monetary issues conjured by the club’s move to the Emirates Stadium, which ended hopes of landing Ronaldo, per the aforementioned piece:

"

… The crisis meant they missed out on signing Ronaldo as Wenger knew the club could not afford the Portugese teenager even though Sir Alex Ferguson admits that Arsenal were desperately trying to sign him.

Ronaldo, who has gone on to become winner of the Ballon d’Or and one of the most prolific goalscorers in the game’s history, went to the Arsenal training ground but United beat them to his signature.

"

Jamie McDonald/Getty Images

Cross reveals that a bank withdrew their loan on the new stadium, which meant the work was put on hold and the players were “within days” of going unpaid. “Eventually the club sold nearby land before securing funding for the Emirates in February 2004,” he went on to reveal.

But as mentioned, in hindsight, missing out on the gangly lad with highlighted hair from Sporting Club seems like a major faux pas on the part of the Gunners. Ronaldo eventually joined United, won a plethora of trophies, became the best player in the world and has added to his legacy during six full seasons with Real Madrid.

JAVIER SORIANO/Getty Images

As we can see here courtesy of WhoScored.com, Ronaldo’s goalscoring record remains phenomenal, over a decade on from when Arsenal tried to lure him to the north London:

With the club suffering with financial woes, it’s little surprise the unbeaten team from the 2003-04 season disintegrated quite so quickly. Indeed, had a player like the Portuguese come in, it’s easy to see a renewed process starting, with Ronaldo’s mixture of quick feet, searing pace and powerful shooting preventing things from becoming stale.

LAWRENCE LUSTIG/Associated Press

Wenger’s reluctance to recycle that side seemed odd at the time, but if this report is to be believed, the Frenchman may well have had his hands tied. As we can see here courtesy of Sky Sports MNF, the team felt the effects of that lack of spending in the subsequent seasons:

Ronaldo under Wenger would have been a sight to behold. The Frenchman has a superb reputation for moulding young players into superstars and the rampant winger strutting his stuff at the Emirates would have surely spearheaded another successful title tilt for the Gunners. But regardless of his pathway there, Ronaldo is a player that always seemed destined for the very top.

Clive Mason/Getty Images

In the long term, getting the stadium sorted has been to Arsenal’s benefit. As Cross notes, there is £200 million in the bank for the Gunners, who have a stunning, money-spinning arena at which to play their home matches. But having seen the effects of not rejuvenating a squad almost a decade ago, it makes a more experienced Wenger’s reluctance to invest years on all the more peculiar.