Arsenal Reveal Turnover Increase as Club Remains Profitable
By Community | September 19, 2014
Arsenal Football Club have announced their financial results for the year ending May 31, 2014 with a gross profit of £4.7 million ($7.67m).
Despite registering a profit, the figure is down on 2013’s £6.7 million ($10.9m) .
The club also revealed a total turnover of £301.9 m ($492m) up from 2013 which was £280.4m ($457m).
Turnover from football increased to £298.7 million ($487.2m) (2013 – £242.8 million [$396m]) driven mainly by Premier League broadcasting, the FA Cup run and commercial activity including a full year of the Club’s extended partnership with Emirates.
Commenting on the results for the year the club’s chairman, Sir Chips Keswick, said: “Our revenues have exceeded £300 million, underpinned by TV and the significant progress made on our commercial agenda, and our improved financial position has allowed us to supplement the squad with important new signings. Our ambition is to put Arsenal Football Club at the pinnacle of the game here and in Europe. We all want to savour a repeat of the joys of last May.”
The club’s chief executive officer, Ivan Gazidis, told the club’s website: “The club is in excellent shape, both on and off the pitch. We are proud of our 11th FA Cup success and the reward this represents to our fans in the Arsenal community around the world.
“There is always more to do and, whether investing in the team or in training facilities which will provide long-term benefit to the club, our guiding principles are the same and our focus is clear, on delivering more on field success.
“This remains the shared ambition of our majority shareholder, Stan Kroenke, the board and everyone connected with the club. We are well placed to deliver against those ambitions.”