Arsenal announces £36m profit
Arsenal has announced a pre-tax profit of £36.6million for the financial year ending May 2012.
The North London clubs parent company owners, Arsenal Holdings plc, today released the figures for the 2011/12 financial year with an annual group turnover of £243million with the aforementioned profit up on last year's £14.8m.
The clubs player trading profit of £26m was confirmed following the sales of Cesc Fabregas and Samir Nasri but the wage bill jumped from £124.4m to £143.4m placing Arsenal fourth in the Premier League behind Manchester City, Chelsea and Manchester United.
"We have invested in the team and in the Club's infrastructure as a whole and this will continue," read a statement from non-executive chairman Peter Hill-Wood.
"UEFA's new financial regulations have added a further emphasis to the need for a sound financial model. That is why our activities to increase revenue are important. Increased revenues allow us to continue to be competitive and to keep pace with the ever present cost pressures in the game."
Chief Executive Ivan Gazidis added: "Clubs, fans and other stakeholders in the game are demanding a more rational financial approach and this reinforces our conviction that our Club is strongly placed to succeed over the long term.
"We have qualified for the Champions League for the 15th season in a row whilst off the pitch we have a business strategy and infrastructure that is helping us to grow our revenues. This revenue growth will provide sustainable funds for future investment in the team whilst keeping within the UEFA Financial Fair Play requirements. We can and will forge our own path to success."