Edelman: Record figures proof Arsenal do not need investment

Arsenal managing director Keith Edelman says today's stunning financial figures is proof enough they do not need to attract outside investment.

Figures unveiled on Monday morning show the Gunners' move to the Emirates Stadium has driven a near 50% increase in turnover to more than £200million for the year ending May 31, 2007.

ord=Math.random()*10000000000000000;document.write('');
That sum means they are only edged into second place in the continent's money league by Real Madrid.

"We think it's very important as a board that the club develops revenues it generates itself and is not dependent on people putting money in every year, because that's not a very stable basis on which to run a club," he told arsenal.com.

"We regard ourselves as custodians of the club and fans as well. It's important that the club does have a stable financial base."

He added: "If you look at the shareholders and the look at the board, we are all here because we love the club. Yes we want to run it well as a business, but only because we want to be a great club.

"That could be contrasted with what could be called financial owners, who come to purchase clubs to make money out of them and they don't have that affinity to be a rabid fan - to live, breathe and eat Arsenal Football Club."

With the new Premier League TV deal yet to be reflected in their figures and the Gunners also set to launch their own TV channel in the new year, it seems everything is in place for the financial success to continue.

Have your say