The Arsenal money-making machine rolls on…
Arsenal may be heading out of the Champions League, but the Gunners can celebrate another impressive year of profit after the club’s financial results were released, the London Evening Standard reports.
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Arsenal transfer news
The Gunners spent big on new signings in the summer of 2014, bringing in Alexis Sanchez and Danny Welbeck, who were among the biggest names to arrive in their transfer window.
That has not stopped the club from producing strong financial results, however, with turnover up and profit also high despite the amount spent on new players.
Chairman Sir Chips Keswick released a statement, saying: “Our commitment to investment in the squad was evidenced by a record level of expenditure on players joining during the summer with the acquisitions of Calum Chambers, Mathieu Debuchy, David Ospina, Alexis Sanchez and Danny Welbeck.
“The recent acquisition of defender Gabriel from Villarreal will take our total transfer expenditure for the year to well in excess of £100 million.
“This substantial investment has inevitably led to increased amortisation and wage costs in our profit and loss account but, crucially, this remains at a level which is consistent with our principle of affordability and which is financially sustainable in accordance with the requirements of the applicable regulatory regimes.”