Rvp Transfer Boosts Arsenal Profits

Arsenal FC has announced a profit of £17.8 million in the club’s latest half-yearly results, achieved effectively by the sale of Robin van Persie to Manchester United, with cash reserves also up £7 million to £123.3million.

However, the club has seen its first-half pretax profit decrease by more than 50% on the back of significant investment in the transfer market, with the latest figures covering the half year to the end of November 2012. 

Arsenal chairman Peter Hill-Wood said: ‘Our ability to compete at the top of the game here and in Europe is underpinned by our financial performance which gives the club strength and independence.’

‘Our desire is to make everyone connected with Arsenal proud of the club. We know that comes through winning trophies but also through the way we do things and that will remain our constant guide.’

The financial report reveals that profit on player sales reached £42.5 million, a similar story to this time last year following the sales of midfield duo Cesc Fabregas and Samir Nasri to Barcelona and Manchester City, respectively. 

Hill-Wood added in a statement: ‘Although we were disappointed to see Robin van Persie leave the club, we have taken steps to secure our best players going forward and have recently signed Jack Wilshere, Theo Walcott, Kieran Gibbs, Aaron Ramsey, Alex Oxlade-Chamberlain and Carl Jenkinson to new long-term contracts.’

‘During this financial period we also invested £40.9million in the acquisition of new players, Lukas Podolski, Santi Cazorla and Olivier Giroud, and the extension of other player contracts. More recently we added Nacho Monreal to our ranks from Malaga.’

Hill-Wood also believed that the Premier League club’s agreement to bring in financial fair play-style spending controls would help Arsenal. 

‘These new rules will be good for us, good for the Premier League and good for the game as a whole.’

‘It is important that we maintain the quality and level of competition if the game is to continue being a compelling spectacle and we believe the introduction of tighter financial regulation will assist all clubs to compete while remaining financially responsible.’

Arsenal’s football turnover dropped from £113.5 million to £106 million as a result of four fewer home fixtures compared to the same period last year. The report also confirmed an extended partnership with Emirates, worth up to £150million.

Back in 2011, Arsenal CEO Ivan Gazidis told the Nolan Partners Sport Industry Breakfast Club that he was confident in the financial model the club was running. Click here to check out this year’s speaker line-up.