Arsenal have announced today (September 19th) that their pre-tax profits last season rose to £37 million.
The club's income increased by 11 per cent to £232 million following the implementation of the new television rights deal for Premier League clubs.
However, the Gunners' debts also rose by 12 per cent to £318 million as they were forced to borrow more cash to help finance the redevelopment of Highbury.
Chairman Peter Hill-Wood said: "We are committed to operating the club as a business which is financially self-sustaining.
"This is clearly demonstrated having achieved our second highest ever pre-tax profit of £36.7 million.
"Over the last two seasons Emirates Stadium has taken our football revenues to a new level, but we cannot be complacent."
The news comes on the back of the announcement this week that American billionaire Stan Kroenke has been appointed to the board as they attempt to ward off any potential takeover from Alisher Usmanov, the mega-rich Uzbeki who is the club's largest shareholder.
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
