Arsenal chairman Sir Chips Keswick insists Ivan Gazidis deserved £2.6m payment (including £919k bonus) for doing 'fantastic job'
- Sir Chips Keswick has defended his chief executive after recent criticism
- It has been revealed Ivan Gazidis was paid £2.6m including £919,000 bonus
- Arsenal held their AGM on Thursday - you can relive the conference here
Arsenal chairman Sir Chips Keswick defended the £2.6million payment made to chief executive Ivan Gazidis despite on-field results waning.
Gazidis was made the payment, which included a bonus of £919,000, despite Arsenal's league position slipping from second to fifth place with no Champions League qualification.
Keswick said at Arsenal's Annual General Meeting: 'The club's remuneration committee which is chaired by Lord Harris and of which I am a member, evaluates the performance of our executive directors and senior management team across a very broad spectrum of objectives.
Sir Chips Keswick (left) has leaped to the defence of chief executive Ivan Gazidis (right)
Arsenal supporters arrive at the Emirates Stadium for the club's AGM meeting
'These objectives include financial targets both in terms of current year performance against budget and revenue growth across a longer time-frame than the results of a single season.
'These financial metrics are just one part of our assessment. The development and delivery of projects such as the upgrade of our training facilities, the academy and the continued strengthening of our commercial capabilities are among the other relevant milestones.
'I would also add that it is important the remuneration of all the club's management remains competitive in order to attract and retain talent. In this regard, our CEO's pay is comparable to clubs of a similar stature.
'Ivan is doing a fantastic and first class job leading the development of this club across every aspect of its operations and is representing it in the Premier League, the European Club Association and UEFA level.
'We are fortunate to have him as our CEO and I am very grateful that he does as much as he does.'
Keswick was also re-elected as chairman, which was opposed by those in the room at the AGM, but it was revealed ahead of a poll vote that there were proxies that backed the resolution which together amounted to more than 97 per cent of the total shareholding of the company.
Gazidis received bonus payment despite the club failing to qualify for the Champions League
Most watched Sport videos
- Dana White's bizarre rant against Netflix during Tom Brady roast
- Crystal Palace manager reacts to strong win over Man Utd
- Boy aged 10 dies after freak cricket accident
- Boy dies after being hit in the groin with a ball during cricket
- Dad or Ronaldo? World Snooker Champ Wilson's kids keep him humble
- Brendan Fevola's daughter reveals he still plays footy in the park
- The Rock begins MMA training camp ahead of filming 'Smashing Machine'
- Mbappe asked whether he will support Real Madrid tomorrow
- Jadon Sancho leads Dortmund stars in Adele rendition
- Dortmund get the party started as they reach Champions League final
- PSG and Dortmund fans put on a spectacle ahead of UCL clash
- Drew Bledsoe makes THAT Gisele joke during Tom Brady roast