Arsenal may be his biggest asset (don’t think it is tbh but whatever) but you didn’t say he was using Arsenal as leverage, you suggested the cash in the bank was being used as leverage. We’re not worth any less if that cash was gone either so it’s pure fantasy.
It’s absolutely not a stupid assumption to make out that Wenger makes all the decisions in regards to players etc. In fact, I think it rather stupid to think otherwise. Never said Stan didn’t make decisions either.
My edit wasn’t a list of his assets btw, just an illustration of his other assets that are more valuable than 200m quid Sterling.