|
Arsenal's football revenues increased by more than 20 percent, rising to £191.1 million in the most recent six-month fiscal period, but cash reserves dropped to just over £100m after a record outlay on transfers. The club presented their financial results for the six months ending Nov. 30, 2016, on Friday and said increasing revenues from Premier League broadcasting rights had helped them make an overall profit. Arsenal made a pre-tax profit of £12.6m for the period, compared to a loss of £6.2m the previous year. "The main reason for this improvement is the start of the latest three-year cycle of Premier League broadcasting revenues," chairman Chips Keswick said in a statement. The figures showed Arsenal spent a total of £110.5m on players last summer when they bought Shkodran Mustafi, Granit Xhaka, Lucas Perez and Rob Holding, with Japanese striker Takuma Asano and Nigerian teenager Kelechi Nwakali also being signed. That was a record for the club and higher than most initial estimates, which had put the total outlay at between £90m and £100m. Arsenal made only £6.3m on selling players, most of that from Serge Gnabry and Isaac Hayden. The figures meant the club's cash reserves dropped by about £35m, with a total of £100.4m now available for football purposes. "As always, the actual outcome for the second half [of the fiscal year] will be strongly influenced by the extent of progress in the knockout competitions, the level of live TV coverage for Premier League games and final league position," Cheswick said.
|
