Arsenal spending power dwarfs Chelsea riches – so why on earth are the Gunners reluctant to invest?

Arsenal’s two largest shareholders are now worth more than twice as much as Chelsea owner Roman Abramovich, according to new figures from Forbes.

The American business magazine has published its 2017 list of the world’s richest men and Gunners duo Alisher Usmanov and Stan Kroenke both feature.

Usmanov, who owns 30 per cent of the club but is not on the board, has seen his net worth grow by more than £2billion in the last 12 months.

The Russian was once ranked as his country’s wealthiest man now has a personal fortune valued at £12.3billion, the new figures claim.

That number is significantly higher than Abramovich’s estate, which comes in at slightly under £7.4billion, and majority owner Kroenke’s £6.4billion.

Gunners supporters are frustrated at the club’s inability to challenge for titles given the considerable financial resources available to the management.

The latest Forbes list ranks Usmanov as the 66th richest man in the world, with Abramovich at 139 and Kroenke at in at 182.

But while Usmanov’s fortune dwarfs that of compatriot Abramovich, it is the latter who has invested heavily to deliver success at Stamford Bridge.

Arsenal, having pumped money into building the Emirates Stadium, are operating a tight financial model where investment does not outstrip income.