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Arsenal post £17.7m loss despite record revenues
Economy

Arsenal post £17.7m loss despite record revenues

by  AFP 1 min read
Arsenal posted a £17.7m loss in 2023/2024 despite club record revenues of over £600 million
Arsenal posted a £17.7m loss in 2023/2024 despite club record revenues of over £600 million. Photo: Glyn KIRK / AFP
Source: AFP

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Arsenal lost £17.7 million in the 2023/24 season despite a return to the Champions League helping to post a club record £616.6 million ($775 million) revenue.

The Gunners missed out narrowly to finish second to Manchester City in the Premier League and reached the quarter-finals in their first Champions League campaign since 2016/17 before bowing out to Bayern Munich.

A return to Europe's elite club competition contributed towards a £71 million rise in broadcasting revenue and £29 million more matchday income.

Commercial income also grew significantly to £218.3 million thanks to a renewal of the club's agreement with stadium and shirt sponsor Emirates and selling naming rights to the training ground to Sobha Realty.

However, wages skyrocketed to £327.8 million from £234.8 million.

The figures were an improvement on the £52.1 million loss posted in the previous 12 months.

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"The club continues to be compliant with all applicable financial sustainability regulations put in place by UEFA and the Premier League," Arsenal said in a statement.

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"Consecutive qualifications for the UEFA Champions League for 2024/25 for both men’s and women’s teams represent a positive continuation of the club’s progress and we look forward to an exciting end to the 2024/25 season."

Arsenal sit second in the Premier League, seven points behind Liverpool, with 13 games remaining and have progressed to the last 16 of the Champions League.

Source: AFP

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