Latest Arsenal accounts reveal record revenue, soaring wage bill and profit on player trading | OneFootball

Club posts overall loss of £17.7m for 2023-24, which follows on from loss of more than £50m in previous year

Arsenal have announced a record revenue of over £600million in their latest financial accounts.

For the 2023-24 financial year, revenue rose from £466.7m to £616.6m thanks to the club returning to the Champions League and their commercial strategy.

But Arsenal still recorded an overall loss of £17.7m, which follows on from a loss of more than £50m in the previous year.

Arsenal made a £52.4m profit on player trading, while wages soared by almost £100m from £234.8m to £327.8m.

The club say that increase was mainly driven by investment in player wages in both men’s and women’s teams. There was also an impact from increased commercial and operational headcount.

The return of Champions League football was a big boost to Arsenal as it meant there were 25 home fixtures at Emirates Stadium.

As a result, match-day revenue rose from £102.6m to £131.7m and the average attendance at the Emirates for men’s games was 60,095.

Broadcasting revenues also rose from £191.2m to £262.3m thanks largely to the higher levels of UEFA distribution from Champions League as compared to the Europa League in the previous season.

Commercial performance, in the second year of Arsenal’s new commercial strategy, was strong across the board and revenues were significantly improved from £169.3m to £218.3m.

Arsenal said in a statement: “The renewal and extension of our agreement with Emirates led the way on partnerships but was supported by the naming rights deal for the Sobha Realty Training Centre and an increased number of secondary deals at improved valuations.

“The club’s retail operations provided another highlight with significant year-on-year growth to outperform an ambitious growth plan, and our summer 2023 tour of the USA also delivered improved revenues.

Arsenal added: “Player trading profits continue to have a significant impact on overall profitability and the club’s ability to realise profits during 2023/24 was again adversely impacted by market conditions with reduced overall liquidity as clubs’ acquisition budgets continued to be impacted by financial pressures.”