So it is that time of the year that Premier League clubs publish their financial profits and losses, and I have been surprised that we have only lost 45 million (Down from £107.3 million the previous seaon).
Considering all the disruption from Covid, empty stadiums and Mikel Arteta’s massive rebuilding project, I would have expected a larger deficit to be offset against future gains.
But according to the official statement from Arsenal, they think that the loss of European football has caused the biggest impact. The report said: “The 2021/22 season was the first for 23 years in which the men’s first-team had failed to qualify for UEFA European competition. The loss of the revenue associated with UEFA football was the principal contributory factor in terms of the overall result for the year.
One benefit we gained was 75m extra from matchday revenue thanks to returning fans, but we were 40m down on our TV revenue (again due to no Europe and Covid).
There was also a big statement on Kroenke’s support for our rebuilding of the playing squad. This is what it said:
During 2021/22, and subsequently during the 2022 summer transfer window, the Club has invested strongly in the development of its men’s first-team playing resources. This investment recognises that the Club has not been where it wanted to be in terms of on-field competitiveness and that, as a minimum, qualification for UEFA competition needed to be regained, as a pre-requisite to re-establishing a self-sufficient financial base. This investment would not have been possible without the support and commitment of the Club’s ownership, Kroenke Sports & Entertainment.
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.
So, things are definitely encouraging this season. Hopefully we will see our club post a profit from next season onwards, although I wonder how much more investment we will need in the January transfer window….
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