Ivan Gazidis has explained the increase in ‘other football costs’ in Arsenal’s recent financial accounts.
The first question asked at today’s AGM related to unexplained rise in ‘other football costs’ that was found in Arsenal’s latest financial accounts.
Q1. pic.twitter.com/ErP3BBpyCj
— FK (@fkhanage) October 26, 2017
The question asked the Arsenal board to explain how they have paid, on average £2m per year more on tour costs, partnership costs, extra security, legend match proceeds and a surplus property provision.
Ivan Gazidis explained that increase was down to higher retail revenues, expenses of recent tours and the club subsidising the cost of away tickets for travelling supporters. He also mentioned the security costs have increased due to terror incidents that have occurred in the UK in the past year.
He also notes the increased costs of security due to the recent increased terrorism threat.
— Dan Critchlow (@afcDW) October 26, 2017
Gazidis: “The only related party transactions are with Arsenal broadband, as disclosed in the accounts.”
— Dan Critchlow (@afcDW) October 26, 2017
The Arsenal chief executive went on to explain that the only related party transactions are with Arsenal broadband, which was already mentioned in the club’s accounts.
The increase in costs was said to be surprising due to reduced number of home games last season, including the absence of the Emirates Cup.