Arsenal Holdings Limited have reported a pre-tax loss of £1.4 million for the year ending 31 May 2025, according to accounts filed at Companies House, a marked improvement on the £17.7 million loss recorded in 2024.
The result includes £15.2 million in exceptional costs relating to impairment of player registrations. Excluding those costs, the club recorded a pre-tax profit of £13.8 million.
Total revenue reached a club record £691.0 million, up from £616.6 million the previous year. Football revenue alone rose to £690.3 million, driven by increases across matchday, broadcasting and commercial income.
Chief executive Richard Garlick said: “These financial results show a positive trajectory as we continue to pursue major trophies, following our second successive season back in the men’s UEFA Champions League in 2024/25.
“The investment in our teams, supported by revenue growth, resulted in strong campaigns for both our men’s and women’s teams last season.
“Our industry continues to face challenges in terms of the level of investment it takes to compete at the highest level in the face of rising costs in a regulated environment. This remains an important consideration as we look ahead.
“As we move into 2026, it’s an incredibly exciting time to be part of Arsenal. We continue to build something special on the back of these improved financial results. Our teams are pushing on to do everything we can to deliver major trophies and I want to thank all our staff for their passion and commitment to achieving our goals.
“The next few months represent a great opportunity for us all and it’s important we continue to build momentum together.”
Matchday revenue increased to £153.9 million, compared to £131.7 million in 2024, helped by 30 home fixtures following progression to the UEFA Champions League semi-finals. Average attendance across men’s home matches was 60,047.
Wage costs rose to £346.8 million from £327.8 million, reflecting continued investment in both men’s and women’s squads as well as increased commercial and operational staffing.
Commercial revenue climbed to £263.2 million, up from £218.3 million, supported by the renewal and extension of the adidas partnership, a full year of income from Sobha Realty and growth in secondary commercial agreements.
Retail revenue increased by 27 per cent year on year.
Broadcasting income rose to £272.8 million from £262.3 million, largely due to higher UEFA Champions League distributions.
Profit from player sales and loans totalled £81.7 million, compared to £52.4 million in 2024. Net finance charges fell slightly to £17.7 million.
Following transfer additions costing £123.9 million, the book value of player registrations decreased to £399.0 million from £486.6 million.
Operating costs increased to £200.8 million, up from £147.9 million, reflecting higher staging costs, revenue-related expenses and ‘inflationary pressures’.
Cash reserves at year end stood at £56.0 million, down from £66.8 million the previous year.