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Arsenal reveal £30m drop in profits in latest financial results

By on September 23, 2013

Arsenal have announced their 2012-13 financial results, revealing a £30 million drop in pre-tax profits from their 2011-12 figures.

The Gunners’ group profit amounted to £6.7m for the year-ending May 31, 2013 – while their pre-tax profit for the previous year totalled £36.6m.

Robin van Persie’s £24m move to Manchester United helped account for a total of £47m in player sales although that figure fell short of the £65.5m recuperated the year before, with the likes of Cesc Fabregas, Gael Clichy and Samir Nasri leaving the club.

Arsene Wenger invested £58.7m in the purchase of new players, while contract extensions, including a four-and-a-half-year deal in the region of £90,000 a week for Theo Walcott, pushed amortisation charges up to £41.3m – a £4.5m rise from 2012.

Turnover from football, meanwhile, increased to £242.8m from the 2012 figure of 235.3m, with the Gunners reaping the financial benefits of their various commercial tie-ins, including the extended partnership with Emirates.

Reflecting on the results, Arsenal chairman Sir Chips Keswick said: “It is my job to ensure we steer further along the course we have set.

“We must continue to grow commercially to provide the club with the best opportunity to achieve success and we must do this in a way which remains true to our values and which ensures and protects the long-term sustainability of the club.

“We face a competitive landscape across the top of the Premier League and across Europe’s elite clubs which is tougher than ever. Despite fair play initiatives the financial competition for top players remains intense and transfer prices and player wages continue to move ever higher.

“It is therefore positive that the strong financial platform we have created in recent years allows us to continue to be competitive at the highest level.”