Arsenal have released their 2016/17 financial results and they’ve actually done pretty well despite finishing fifth.
The Gunners are the second Premier League team to publish their financial results after Manchester United.
According to Swiss Ramble, Arsenal made a profit of £42m before tax. It went up from £3m to £45m, which isn’t higher than United’s (£57m) but is more than all other clubs for the 2015/16 season. It was also more than our previous four seasons combined.
Last term, Arsenal’s group profit was £2.9m, down from £18.2m the previous year.
However, after taxes were subtracted, it only increased from £34m to £35m as the club had to pay £8m more.
The massive jump in profit is apparently down to the new £58m broadcasting deal that came from being in the Premiership and Champions League. Obviously, we won’t be getting that this season…
Arsenal predict that dropping down to the Europa League will cost the club £20m depending on how far we get, obviously.
The Gunners also had players like Wojciech Szczesny and Jack Wilshere earning loan fees and sold Serge Gnabry to Werder Bremen for £5m at the beginning of the 2016/17 season.
Revenue rose by 21% and is the second-highest reported in the Premier League.
Arsenal haven’t made a loss since 2002.
For more info on Arsenal’s published 2016/17 financial results, visit the Swiss Ramble’s thread on Twitter.