Arsenal fans are heading to Budapest in their thousands for the club’s second Champions League final, 20 years after the heartbreak of Paris. In 2006, Jens Lehmann’s 18th-minute red card against Barcelona at the Stade de France set the tone for a night of frustration, as Arsenal lost 2-1 despite taking the lead through Sol Campbell.
The intervening two decades have been defined by financial constraints and a gradual decline from the Invincibles era. The move to the Emirates Stadium in August 2006 was meant to secure Arsenal’s future, but the £400m debt left the club strapped for cash. Former managing director Keith Edelman recalled: “We were begging and borrowing to tread water.”
The club’s financial struggles were compounded by the arrival of Roman Abramovich at Chelsea and Sheikh Mansour at Manchester City, which turbo-charged the game’s finances. Arsenal were forced to sell key players such as Patrick Vieira, Ashley Cole, Kolo Touré, and Gaël Clichy, while Thierry Henry departed for Barcelona a year after the final.
Despite the difficulties, Arsenal have now reached the final again under Mikel Arteta, who is aiming to complete the journey that began with the Invincibles. The club’s first Champions League title is in sight, offering a chance to exorcise the ghosts of 2006 and finally take the final step to becoming a global force once more.
