Report: Arsenal Are the Richest Club in London

Arsenal are the richest club in London, according to a report published in the Evening Standard. 

The report claims that the 2011-2012 Rich List in Four Four Two magazine has Alisher Usmanov as the second richest Premier League owner, behind Sheikh Mansoor at Manchester City.

Usmanov's wealth has increased to a staggering £12.4 billion, whereas Stan Kroenke has a fortune of £1.8bn. But the American has a 66.82 percent stake at Arsenal.

"The pair's combined fortune make Arsenal the richest club in London, overtaking Queens Park Rangers," wrote the Evening Standard.

With the Gunners' recent poor form and the frustration growing by the lack of transfer activity, it is a surprising comment to make Arsenal the richest club in London.

I state a lack of transfer activity as the transfer deadline day deals were seen more as a cover up to prevent backlash from the fans. Instead if Arsenal were seriously competing in the transfer market, they would have done their deals early, and replaced Fabregas and Nasri, before letting them leave the club.

To be fair to the Gunners, though, they did try to sign Phil Jones early on in the summer but lost him in a fee battle to Manchester United. And the club was interested in signing Scott Parker but lost interest due to the transfer fee; the same story goes for Gary Cahill.

It is interesting to see such reports, as all fans must now wonder whether Arsenal will carry on as a self sustaining club, or will be forced to use the funds from the owners to really compete in the transfer market.