Arsenal cannot afford to soundproof their stadium despite having more than £120m in reserve funds, according to club director Ken Friar.
Islington residents have called for measures to minimise noise pollution and disruption, as the club hopes to double the number of music concerts held at the Emirates Stadium from three to six a year.
But at a meeting of Highbury West Ward Partnership, Mr Friar said that a £15m retractable roof would be too expensive for the club.
Despite the club having £123m reserves and a £17m profit from recent transfers, Mr Friar insisted that the club cannot splash out on large expenditures.
“We sold players for £42m,” he said. “Had we not done so we would have lost £25m [from player transfers]. If we didn’t sell players we would lose money.
“If we took out player transfers we would make a loss. That’s why we need things in place for the years we don’t sell players.
“We have £123m reserves, but we are not allowed to spend a major chunk of that because we owe the banks well over £200m. It’s finely balanced.”
Residents are concerned that the increase in concerts will create problems with disruption from noise,concert-goers dispersing throughout the area and the potential for alcohol and drug problems.
The Highbury Community Association (HCA) sent Arsenal a letter of protest, that said: “We accept an awful lot from the club the rest of the year with little complaint, from litter and rowdiness to rows of illegally parked cars in our streets with false or borrowed disability badges displayed.”
Founding HCA member Gill Shepherd said: “They have failed to meet many of the commitments they originally made. There is little goodwill left among the residents when they ask us to give up yet more for them.”
