Arsenal post £17.7m loss despite record revenues / Photo: Glyn KIRK - AFP
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Arsenal post £17.7m loss despite record revenues
Arsenal lost £17.7 million in the 2023/24 season despite a return to the Champions League helping to post a club record £616.6 million ($775 million) revenue.
The Gunners missed out narrowly to finish second to Manchester City in the Premier League and reached the quarter-finals in their first Champions League campaign since 2016/17 before bowing out to Bayern Munich.
A return to Europe's elite club competition contributed towards a £71 million rise in broadcasting revenue and £29 million more matchday income.
Commercial income also grew significantly to £218.3 million thanks to a renewal of the club's agreement with stadium and shirt sponsor Emirates and selling naming rights to the training ground to Sobha Realty.
However, wages skyrocketed to £327.8 million from £234.8 million.
The figures were an improvement on the £52.1 million loss posted in the previous 12 months.
"The club continues to be compliant with all applicable financial sustainability regulations put in place by UEFA and the Premier League," Arsenal said in a statement.
"Consecutive qualifications for the UEFA Champions League for 2024/25 for both men’s and women’s teams represent a positive continuation of the club’s progress and we look forward to an exciting end to the 2024/25 season."
Arsenal sit second in the Premier League, seven points behind Liverpool, with 13 games remaining and have progressed to the last 16 of the Champions League.
K.AbuTaha--SF-PST