Why Arsenal couldn't sign Cristiano Ronaldo and why Arsene Wenger rejected Real Madrid

Arsenal manager Arsene Wenger was close to signing Cristiano Ronaldo before he moved to Manchester United

John Cross’ new book Arsene Wenger: The Inside Story of Arsenal Under Wenger reveals some interesting facts about Wenger’s reign during the Invincibles era and the move from Highbury to Emirates Stadium, as reported in The Mirror. Arsenal had gone the entire season unbeaten in 2003/04 – two years before they made the move to the Emirates. But a snag in a financial deal with a bank almost left the club staring at the prospect of not paying the wages of the Invincibles as the club became strapped for cash.

The book explains how one bank decided not to provide financial assistance and refuse to loan money for the new Ashburton Grove stadium. The stadium’s construction cost was £470 million – money Arsenal did not have. When the loan was pulled, the construction of the stadium which began in February 2004 had been halted.

The club was finally able to sell a piece of land they owned to ensure that there would be enough funds to avoid a financial crisis at the North London club. Since then, the club negotiated a number of commercial deals over the years that has now seen Arsenal become one of the richest clubs in Europe after they moved to the 60,000 capacity stadium.

Wenger’s ability to get the club to qualify for the Champions League for 18 years was also a big factor in ensuring a steady stream of income.

Financial crisis saw Arsenal miss out on Cristiano Ronaldo

With funds at a bare minimum, Arsene Wenger went about planning for the future and started building a team with players in their early 20s who were either signed before the move to the Emirates (like Robin van Persie and Cesc Fabregas) or did not cost a lot of money (like Theo Walcott).

The book also talks about how Cristiano Ronaldo was one of Wenger’s primary targets but was unable to sign him because the club were in the process of selling their star players to make ends meet. Ronaldo had even visited the Arsenal training ground before Manchester United stepped in and signed the Portuguese youngster after ex-Manchester United manager Sir Alex Ferguson spoke to Ronaldo’s agent Jorge Mendes.

Sir Alex revealed Arsenal’s interest at the time, saying: “I’d met Jorge Mendes the night before to establish the position, to make sure we were on solid ground.

“In fairness, he always looked out for the player’s best interests and he told me Arsenal and Real Madrid were in for him. I got the boy down, I told his agent that I wanted him to come back with us.”

Sir Alex Ferguson was able to sign Ronaldo when Arsenal could not

Wenger almost joined Real Madrid: Ramon Calderon

Former Real Madrid president Roman Calderon also revealed that Wenger was interested in working at the Santiago Bernabeu at one point in his career as Arsenal manager. Calderon was Real Madrid President between 2006 and 2009 and had spoken to Wenger during his tenure.

Calderon said: “I imagine that anyone – be it a coach or a player – at some time in their career is interested in coming to a club like Real Madrid, especially when you have been at a club for fifteen years, or however long, in England.

“He (Wenger) was talking to me about Real Madrid and, at that time, he was very interested in the club and what was happening. I remember he said: “Are you going to Hollywood again, or to make a football team?” He meant are you going for film star Galacticos or to make a proper football team.

Arsene Wenger was very close to a move to the Santiago Bernabeu

“It’s something you have in England that is a very good thing. You have it at Arsenal, you had at Manchester United, that the manager could stay at the club for a very long time. It’s impossible here.

Calderon respected Wenger’s decision and even took a shot at Mourinho about his behaviour at the club.

“Things didn’t work out and he has clearly loved his time at Arsenal. Wenger is respectful. You never see him in arguments. There might be occasions where he complains about referees but not in the way that Mourinho does.”

“He’s (Wenger) a very, very kind man. He is a wonderful manager, a really nice man and I am so pleased that he has been so successful, but I also think he would have been very good at Madrid. But Madrid is a very difficult club sometimes.”