Stadium Move Hits Arsenal Finances

Arsenal has cited the one-off costs of the club’s move to the new Emirates Stadium as the primary factor in the £6.2m loss for the six months to the end of November reported in the latest set of financial results.

While the cost of moving to the new stadium came to £21.4m, the debt was offset by the fact that turnover rose by close to 77 percent during the same period – principally due to the increased ground capacity of the Emirates Stadium compared to Highbury.

Chairman Peter Hill-Wood said: ‘The stadium project’s objective was to provide Arsenal with financial strength to compete at the highest level.

‘I believe the results for the group’s first period in its new home demonstrate we have already achieved the milestone of providing the financial strength. The stadium has provided improved match-day facilities and tickets for a far great number of supporters.’

While turnover rose from £57m to £100.8m, pre-tax profits before net finance charges were up year on year from £14.3m to £19.6m and operating profits before depreciation and player trading leaped by 150%, from £8m to £20m.

Arsenal has stated that it expects to reach its final targets for operational efficiency at the new stadium at the end of the season.