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As featured on NewsNow: Football news

Latest Arsenal accounts reveal record signing on players

Arsenal have announced a pre-tax profit of £11.1m for the six months to November 30 last year. This represents a loss of £2.2m from the same period in 2013, with Arsenal also posting an increase of £12.6m in turnover to £148.5m.

Arsenal also say the club has cash reserves of £138.8m, with the figure rising from £120.6m from the same six-month period in 2013.

Arsenal expect the overall result for the year to fully comply with UEFA Financial Fair Play rules, with the club announcing it has spent a club-record £93.7m on players, reports Sky Sports.

Arsenal chairman Sir Chips Keswick said: "Our commitment to investment in the squad was evidenced by a record level of expenditure on players joining the club.

"Crucially, this investment remains at a level which is consistent with our principle of affordability and which is financially sustainable.

"On the field, the team has produced some strong results and the squad is looking fit and better balanced.

"However, we need to find our best form on a more consistent basis as we approach, what I hope will be, an exciting end to the season."

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Ian Ferris
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Ian Ferris

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