Arsenal have posted a loss of £45.5million for the 2021-22 financial year.
The results, which were expected after three consecutive years of losses, follow a loss of £107.3million in 2020-21.
Accounting for the loss, Arsenal said that the men’s team’s failure to qualify for any European competition in 2021-22 was the “principal contributory factor” behind the results.
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They went on to explain that, correspondingly, “investment in the men’s first-team playing resources… was a prerequisite to re-establishing a self-sufficient financial base”.
For example, while match-day revenue rose by over £75million, broadcasting revenue fell by just under £40million due to the lack of UEFA competition.
These results accounted for the signings of several players for a combined £125.8million, including Ben White, Martin Odegaard, Aaron Ramsdale, Takehiro Tomiyasu, Albert Sambi Lokonga and Nuno Tavares.
However, the club also said that the return of supporters after the COVID-19 pandemic had significantly helped the club, which they blamed for an £85million loss last year.
The wage bill was also reduced from £244.4million to £212.3million, despite the investment in the playing squad.
Placing these results in context against Arsenal’s rivals, Manchester United recorded a £115.5million loss for the 2021-22 financial year, while their neighbours Manchester City turned a £41.7million profit.
Projecting their results for next year, Arsenal said: “Qualification for the UEFA Europa League for 2022-23 represents a positive first step and can be viewed alongside the start to the 2022-23 season which has so far been encouraging.”
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