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Arsenal Confirm £120.6m Is Available As Latest Financial Results Are Announced
Arsenal have announced their latest financial results which confirm that the club have cash reserves totaling £120.6m available in the bank.
The results are for the period ending November 30, 2013, and a statement on the clubs official website confirmed that turnover from football has increased from £106.1m to £136m with match-day income increasing from £37.8m to £45m. This is mainly because of the return of the Emirates Cup returning last pre-season while our Champions League qualifying round also provided extra income.
The new Sky and BT deals saw broadcasting revenue increase from £40.1m to £52m, and commercial and retail revenue increased from £27.7m to £38.4m which is mainly down to our extended partnership agreements with the Emirates.
The increase in turnover saw operating profits increase from £4.4m to £22.2m and profit on player sales was £6.1m compared to £42.5m in 2012, although income from the property side of the company understandably dropped from £32.3m to £2m with profits of just £0.7m
All sounding good so far, doesn’t’ it. Well the really interesting bit is that we have no short-term debt and cash reserves amount to £120.6m – up from £99.7m in 2012. This is the amount available. We have another estimated figure of £20m also in the bank but that is kept in reserve.
It’s a staggering figure for the club to have sitting in the bank and will obviously lead to a number of questions from the fans. Namely, 1) why was more money not spent on strengthening the squad in the summer and winter windows and 2) why the need for a 3% increase in ticket prices?
All fans knew we had huge sums left to spend, even after the £42m purchase of Mesut Ozil, and now it’s been confirmed we have over £120m the pressure is going to be on Wenger once again after he failed to spend a penny in January.
And these figures don’t even take into consideration the record £150m kit sponsorship deal we’ve recently signed with PUMA. So we’ll have another £30m per season available over the next five years on top of this £120.6m sitting in the bank.
There really is no excuse why this shouldn’t be a major summer in the transfer market, and I just hope Arsene doesn’t end up regretting not opening the cheque book last month…
What do make of these financial results?