Gunners turn a healthy profit once again
Arsenal have posted a £4.7million profit and reported increased turnover in their latest financial figures released yesterday.
The results, which covered the year ended May 31, 2014, also revealed the club had cash reserves of £173m. The profit was down £2m from the corresponding 2013 results with turnover up to £301.9m from £280.4million, driven by improved broadcasting income, new commercial deals and their FA Cup success.
Wages were up by £12m to £166.4m, representing 55.7 per cent of football revenue, with key players such as Theo Walcott, Aaron Ramsey and Jack Wilshere having all signed new, improved contracts.
For the first time in several seasons, Arsenal did not sell any star players last season - and indeed went on to sign Chile forward Alexis Sanchez after the World Cup as well as France defender Mathieu Debuchy and England forward Danny Welbeck from Manchester United on transfer deadline day.
The next set of results are also expected to show an impact from the new Puma kit deal, worth some £150m over five years. That, though, will not appease some fans, who felt shortcomings on the pitch this season could have been avoided with the purchase of a defensive midfielder and more cover at the back.
Chief executive Ivan Gazidis, though, insists Arsenal remain committed to the number-one priority of taking the club forwards on the field.
"We are making significant progress but there is plenty more to be done," he added in a statement to shareholders.