Flat sales to boost Arsenal coffers

Despite the property slump apartments for sale at Arsenal's old ground of Highbury are selling well.

Despite the property slump apartments for sale at Arsenal's old ground of Highbury are selling well.

Acting managing director Ken Friar revealed that 598 of the total 680 apartments being built have already been pre-sold, with more than 90
purchasers having completed already to generate & pound;39m of sales incomes.

This could provide cash for Gunners boss Arsene Wenger to strengthen his team in the near future.

"The financials for the Highbury Square development have been ring-fenced so they are separate from our usual football business," said Friar.

"As such we have not budgeted for the profit and this allows the board to be flexible over its use as the money has not been earmarked for anything in particular.

"In that sense it will be a bonus.

"We have options available to us, for example, profits could be used to reduce the stadium debt or to strengthen the team if the manager wishes."

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