Arsenal's bond plan given the green light

Arsenal are set to launch their new bond scheme after interest was more than three times the amount of bonds available.

The FA Cup holders made the proposal last month to introduce 3,000 new bonds on the North Bank at prices of between £3,000 to £5,000.

But the club pledged they would only do so if fans wanted them. Their website has received enough interest though to sell 11,000 bonds and so the green light has been given to the scheme.

Arsenal hope to raise a maximum of £15million from the bonds, some of which will be used to boost Arsene Wenger's transfer budget.

Controversially though there will be no discounted season tickets available to those that buy a new bond.

Under the scheme the bondholder has:

When Arsenal launched their first bond 10 years ago, fans received a discount of more than 50 per cent for that period. However, that is now at an end and last week these bondholders received letters informing them their season tickets were leaping 300 per cent from £317 to £1220 for next season.