Sales of Cesc Fabregas and Samir Nasri lift Arsenal profit to £36m

 

Ivan Gazidis, the Arsenal chief executive, maintains that the club's latest set of financial results show they "can and will forge our own path to success" after posting another healthy pre-tax profit.

Group profit before tax was £36.6m in the figures for the year ending 31 May which were published yesterday, up from the equivalent 2011 figures of £14.8m. Arsenal, though, could not escape an inevitable increase in wages from £124m in 2011 to £143m, which represented 60.9 per cent of the club's football revenues.

The latest results incorporate the sales of Cesc Fabregas to Barcelona and Samir Nasri to Manchester City last summer, which helped make a profit from player trading of £26m.

The parent holding company's overall turnover was £243m, down from £255m, mainly because of reduced property sales, with a rise in revenues to £235.3m from £225.4m.

"Cash and bank balances" stood at £153.6m, slightly down from a year ago, with net debt stable at £98.9m, most of which is tied in with the long-term mortgage following the club's move to the Emirates Stadium from Highbury.

Gazidis feels this all puts Arsenal in good stead to fulfil Uefa's Financial Fair Play guidelines for clubs to live within their means when they start to apply next year.

He said: "Clubs, fans and other stakeholders in the game are demanding a more rational financial approach and this reinforces our conviction that our club is strongly placed to succeed over the long term.

"We have qualified for the Champions League for the 15th season in a row while off the pitch we have a business strategy and infrastructure that is helping us to grow our revenues. This revenue growth will provide sustainable funds for future investment in the team while keeping within the Uefa Financial Fair Play requirements.

"We can and will forge our own path to success," added Gazidis. "Under the actual circumstances this is quite positive because the whole environment is not positive [globally].

"We are very lucky because we have a good support and the income of our gates is very high. We have to maintain that by keeping our fans happy and to continue to manage well in the way."

The healthy financial results will no doubt push many fans to further question the clubs' frugal transfer policy over the past few seasons but manager Arsène Wenger said: "We are not scared to spend the money, but we feel that even if we spend our money, with some clubs we can't compete on certain players.

"And for the rest, we only want to bring in players who add something to our squad and give a chance as well to the young players we have."

Santos handed driving ban

The Arsenal defender Andre Santos has been banned from driving for a year after admitting at Hendon Magistrates' Court yesterday to speeding at up to 145 mph. The Brazilian was pursued by police in his black Maserati on a busy motorway near to Arsenal's training ground last month before being pulled over and arrested.

News
people
News
people
News
peopleStella McCartney apologises over controversial Instagram picture
Life and Style
Laid bare: the Good2Go app ensures people have a chance to make their intentions clear about having sex
techCould Good2Go end disputes about sexual consent - without being a passion-killer?
PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
Arts and Entertainment
Richard Burr remains the baker to beat on the Great British Bake Off
tvRichard remains the baker to beat as Chetna begins to flake
News
i100
Sport
footballArsenal 4 Galatasaray 1: Wenger celebrates 18th anniversary in style
Arts and Entertainment
Amazon has added a cautionary warning to Tom and Jerry cartoons on its streaming service
tv
News
people
News
The village was originally named Llansanffraid-ym-Mechain after the Celtic female Saint Brigit, but the name was changed 150 years ago to Llansantffraid – a decision which suggests the incorrect gender of the saint
newsA Welsh town has changed its name - and a prize if you can notice how
Arts and Entertainment
Kristen Scott Thomas in Electra at the Old Vic
theatreReview: Kristin Scott Thomas is magnificent in a five-star performance of ‘Electra’
News
Destructive discourse: Jewish boys look at anti-Semitic graffiti sprayed on to the walls of the synagogue in March 2006, near Tel Aviv
peopleAt the start of Yom Kippur and with anti-Semitism flourishing, one Jew can no longer ignore his identity
Life and Style
Couples who boast about their relationship have been condemned as the most annoying Facebook users
tech
Arts and Entertainment
Hayley Williams performs with Paramore in New York
musicParamore singer says 'Steal Your Girl' is itself stolen from a New Found Glory hit
News
i100
Caption competition
Caption competition
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Bleacher Report

Daily Quiz
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Day In a Page

Italian couples fake UK divorce scam on an ‘industrial scale’

Welcome to Maidenhead, the divorce capital of... Italy

A look at the the legal tourists who exploited our liberal dissolution rules
Tom and Jerry cartoons now carry a 'racial prejudice' warning on Amazon

Tom and Jerry cartoons now carry a 'racial prejudice' warning on Amazon

The vintage series has often been criticised for racial stereotyping
An app for the amorous: Could Good2Go end disputes about sexual consent - without being a passion-killer?

An app for the amorous

Could Good2Go end disputes about sexual consent - without being a passion-killer?
Llansanffraid is now Llansantffraid. Welsh town changes its name, but can you spot the difference?

Llansanffraid is now Llansantffraid

Welsh town changes its name, but can you spot the difference?
Charlotte Riley: At the peak of her powers

Charlotte Riley: At the peak of her powers

After a few early missteps with Chekhov, her acting career has taken her to Hollywood. Next up is a role in the BBC’s gangster drama ‘Peaky Blinders’
She's having a laugh: Britain's female comedians have never had it so good

She's having a laugh

Britain's female comedians have never had it so good, says stand-up Natalie Haynes
Sistine Chapel to ‘sing’ with new LED lights designed to bring Michelangelo’s masterpiece out of the shadows

Let there be light

Sistine Chapel to ‘sing’ with new LEDs designed to bring Michelangelo’s masterpiece out of the shadows
Great British Bake Off, semi-final, review: Richard remains the baker to beat

Tensions rise in Bake Off's pastry week

Richard remains the baker to beat as Chetna begins to flake
Paris Fashion Week, spring/summer 2015: Time travel fashion at Louis Vuitton in Paris

A look to the future

It's time travel fashion at Louis Vuitton in Paris
The 10 best bedspreads

The 10 best bedspreads

Before you up the tog count on your duvet, add an extra layer and a room-changing piece to your bed this autumn
Arsenal vs Galatasaray: Five things we learnt from the Emirates

Arsenal vs Galatasaray

Five things we learnt from the Gunners' Champions League victory at the Emirates
Stuart Lancaster’s long-term deal makes sense – a rarity for a decision taken by the RFU

Lancaster’s long-term deal makes sense – a rarity for a decision taken by the RFU

This deal gives England a head-start to prepare for 2019 World Cup, says Chris Hewett
Ebola outbreak: The children orphaned by the virus – then rejected by surviving relatives over fear of infection

The children orphaned by Ebola...

... then rejected by surviving relatives over fear of infection
Pride: Are censors pandering to homophobia?

Are censors pandering to homophobia?

US film censors have ruled 'Pride' unfit for under-16s, though it contains no sex or violence
The magic of roundabouts

Lords of the rings

Just who are the Roundabout Appreciation Society?