Arsenal Reveals Profits Despite Transfers
Arsenal FC posted an overall profit before tax of £11.1 million in 2014, despite a record transfer outlay of more than £90 million.
The previous 12 months included the high-profile arrival of Chile forward Alexis Sanchez (£30m), as well as Danny Welbeck (£16m), Calum Chambers (£16m) and Mathieu Debuchy (£12m) among a number of additions to the squad in the close season.
Despite a flurry of activity in the transfer window, however, financial results for the six months ending 30th November, published on Friday, show turnover from football rose to from £135.9 million to £148.5 million last year, while cash reserves also improved by £18.2 million to £138.8 million.
Arsenal chairman Chips Keswick said in a statement: “Our commitment to investment in the squad was evidenced by a record level of expenditure on players joining the club.
“Crucially, this investment remains at a level which is consistent with our principle of affordability and which is financially sustainable in accordance with the applicable regulatory regimes.”
Arsenal, a beacon of financial sobriety in the Premier League, said the rise in turnover was accompanied by “strong growth in commercial activity driven by the new kit partnership with Puma”.
Arsenal strengthened their push for Champions League next season with a 2-0 win against Everton on Sunday keeping the club in 3rd place in the Barclays Premier League. The club also remains in the FA Cup and UEFA Champions League, but their position in the latter is under threat following a 3-1 first leg defeat to Monaco.
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