Arsenal have released their financial results for the 2016-17 fiscal year.

Another year, another report showing that Arsenal have lots and lots of cash.

Arsenal released their financial results for the recent fiscal year on Thursday, however it seems that they were forced to do so after they were ‘leaked’ –

The biggest takeaway from the results is that Arsenal’s revenue has passed the £400m mark for the first time. Revenue grew £70m to £424m, mostly due to a £58m increase in TV money.

The much-discussed cash reserve, meanwhile, fell from £226.5m to £180.1m due to Arsenal’s big spending in the transfer market. Over £100m was spent on bringing the likes of Shkodran Mustafi, Granit Xhaka and Lucas Perez to the club during the summer of 2016.

The report also notes that £80m of that cash amount has been set aside to pay off existing debts and previous transfers, meaning that Arsenal’s cash reserve is a lowly £100m.

Arsenal’s net spend reached £203m, as plenty was spent on new players and not a lot was recouped from the sales of outgoing players.

The wage bill increased £4m to £199.4m.

Speaking on the results, chief executive Ivan Gazidis said: “We are well-placed to compete on the highest levels on and off the pitch, both in the short and longer term.”

Being well placed and actually competing at the highest levels, however, are far from the same thing.

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News and feature writer with a BA in Creative and Professional Writing from the University of East London. Long-time Arsenal fan also following Sevilla and local side Southend United. You can find me on Twitter @jeinchy29 talking about Arsenal and the issues affecting the English game,