The club’s bank account is still hungover after Arsenal fans might celebrate second place finishes and Champions League nights. Their latest report shows a £17.7m loss for this financial year, going up to May 31, 2024. The word ‘Here we go again’ might spring to your lips, but this actually is an improvement. The deficit last year amounted to £52.1 million. It’s too early for me to say this is a big loss but it’s a smaller one.
The Arsenal Report: Big Gains, Bigger Bills
But enough with the numbers – it seems Arsenal’s accountants have certainly been at it as much as we’ve been. The amount it spent risen from £466.7 million to £616.6 million. Thank you, Champions League! The Gunners didn’t just come back to the Continent’s elite, they reached the last eight and prepared fans’ pockets and filling TV pockets. The figure for matchday revenue rose to £131.7 million from 25 home games and went up to £262.3 million up from £191.2 million for broadcast revenue.
But here’s the kicker—expenses. The wages went up £93 million to £327.8 million. Between Declan Rice, Kai Havertz and handing pay rises to star players, it was like Arsenal had been handing out golden tickets… just not for free.
The Transfer Market Twist: Profits That Helped… A Bit
Player sales raised £52.5 million for Arsenal compared to £12.2 million last year. Folarin Balogun, Granit Xhaka, others packed their bags to help balance look slightly less gloomy. Chips also included loan deals for Kieran Tierney and Nuno Tavares.
However, you should not expect Edu to halt in his quest to wheel and deal. Other money could be made from future sales of Eddie Nketiah, Emile Smith Rowe and Aaron Ramsdale. Furthermore, there will soon be extra cash for new signings as high wage contracts expire (heydiddums to Partey and Jorginho).
For more sports updates, make sure to follow us on:
