Arsenal finances show massive surplus
Arsenal have announced an impressive set of financial figures for the period ending Nov. 30th 2013, with the accounts revealing the club boasts a huge 120.6 million-pound cash reserve.
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With operating profits to 22.2 million pounds for the year, up from the 4.4 million surplus in 2012, the figures suggest Arsenal manager Arsene Wenger had plenty of financial firepower in the last transfer window, even though he opted not to make any fresh signings.
Arsenal were heavily linked with a move for Schalke’s Julian Draxler last month, yet the reported 37 million-pound price tag for the German youngster was believed to be a stumbling block for Wenger, who opted to stick with the squad that served him well in the first half of this season.
That decision will be put to the test in the coming days as Arsenal face a crucial FA Cup clash with Liverpool on Sunday and a Champions League meeting with Bayern Munich next Wednesday.
“When I was appointed chairman last summer, there was good reason to believe that the hard work which has been put in, by many people across the club, over recent years had created the momentum for a successful season in every aspect of our activities,” said Arsenal chairman Sir Chips Keswick, as he gave his view on the financial results.
“Thus far that optimism has been well-founded. We believe we are in a strong position to take the club forward both in the short-term and beyond and to deliver future on-field success.”
Arsenal’s commercial and retail revenues rose to 38.4 million pounds (2012 -- 27.7 million pounds), broadcasting revenue was boosted to 52.0 million pounds (2012 -- 40.1 million pounds), while match day income increased to 45.0 million pounds (2012 -- 37.8 million pounds).
Arsenal’s next set of financial figures will be boosted by the lucrative new five-year contract with kit manufacture Puma, which was announced earlier this year.