Not as readable as the old typeface (https://en.wikipedia.org/wiki/Arsenal_F.C.#/media/File:Arsen...)

edit: Wikipedia has a whole section on the crests and typefaces: https://en.wikipedia.org/wiki/Arsenal_F.C.#Crest

It works as the basis of a logo, but as a typeface it's very hard to read and clashes with almost every other font it could be paired with.