Arsenal have released their accounts for the year ending 31 May 2019 and it shows a drop from a pre-tax profit of £97.4m to a pre-tax loss of £23.5m.
Arsenal have no money.
That’s what we hear a lot of these days about the club that used to have lots of money they just wouldn’t spend.
Then they splashed the cash while the football got worse along with their bank balance.
James Benge has been tweeting the main takeaways from the report which you can read below or on his Twitter feed.
The club made over £100m less in player sales, going from £122m to £16m. NB these figures do not include the summer transfer window. Also a fall of over £30m in matchday revenue to £69m.
— James Benge (@jamesbenge) December 7, 2019
Arsenal retain a cash balance of £107m.
— James Benge (@jamesbenge) December 7, 2019
Obviously next year’s accounts will include £60m-a-year Adidas kit deal, double what they got from Puma. Will also reflect a summer of transfer spending designed to get them back in the Champions League and quite a few decent priced sales.
— James Benge (@jamesbenge) December 7, 2019
As Arsenal look for a permanent replacement for Unai Emery, they are said to be reluctant to have to pay any sort of major fee to get a coach out of a current contract due to a ‘limited budget’.
That even rules out Mauricio Pochettino before the end of the season even though he’s no longer working for anyone.
Now we can see why.
From being one of the best run, most financially solvent clubs in world football to this mess in just a few seasons is quite the achievement.
Bravo.
Arsenal also removed a large amount of cash from their wage bill this summer, you can find out exactly how much here.