Arsenal bring in the fourth largest stadium revenues of any team in Europe, according to the Deloitte Football Money League for 2018.

At first glance, the Gunners’ stadium revenues are down for 2016/17.

Deloitte (via Monitor) have the 2015/16 figure as €133.6m and the 2016/17 figure at €116.4m.

This difference is a result of the depreciation of GBP against the Euro. In local currency, Arsenal are actually up £0.1m, as they hit the £100m mark last campaign.

Here’s how that compares with the other top clubs around Europe

Domestically, the Gunners are only second to Manchester United in this regard.

Here’s the top-10 for English clubs only:

1. Manchester United – €125.2m
2. Arsenal – €116.4m
3. Liverpool – €80.1m
4. Chelsea – €76.2m
5. Manchester City – €60.4m
6. Tottenham Hotspur – €52.7m
7. West Ham United – €33.3m
8. Southampton – €26.1m
9. Leicester – €19.2m
10. Everton – €16.8m

The difference in earnings is pretty stark between the top teams and the rest.

Arsenal brought in more than twice what Spurs, in sixth place, managed, and almost €100m more than Everton in 10th. That’s before you even look at the remaining 10 teams in the Premier League.

Fans on social media regularly slate the stadium move from Highbury, but financially speaking, it’s clearly worked out. Plus, thousands more fans get to attend matches every week.

On the other side of things, this just emphasises how poorly the Gunners are doing in other areas. For example, the club bring in over €50m more than Manchester City from fans at the stadium.

Yet when you look at overall revenue, City (€527.7m) trump Arsenal (€487.6m) by €40.1m.

The supporters contribute much more at Arsenal, but the club isn’t doing its bit by matching that with a significant commercial effort.

With the lack of Champions League this campaign, the situation could get even worse in next year’s results.

The Gunners need to get some deals done now to ensure that isn’t the case.