The Arsenal Supporters Trust has revealed that the Gunners are facing a loss of around £120m if fans are not welcomed back into the stadium soon.
The Gunners are one of the teams that makes a lot of money from their stadium, with that revenue alone amounting to more than £90m in the 2018/19 season.
The fans have been shut out of the stadium since March and with a second wave of the coronavirus possibly coming, it seems that they will still be out for a while yet.
The Premier League is keen to get the fans back in the stadiums to save clubs from more financial problems and the Trust have the same fears for Arsenal.
Because the final months of last season were played behind closed doors, matchday revenue fell to £77m and the Trust predicts that if just 25% of fans are allowed in the grounds this season, the Gunners will make just £20m from stadium revenue.
The Trust summarised: “Estimated losses of £44m this year and £80m next year.
“And if fans don’t return soon and more broadcast contracts see reductions it could be much worse.
“Arsenal still run a bloated wage bill (well over £200m a year) and carry significant debts – both player installments still owed to other clubs and to KSE (stadium loan legacy). We do not know yet what interest, if any, is being charged to the club.
“Potential losses of at least £120m (possibly £150m) over 2020 & 2021 demonstrate why Arsenal have to be so careful in transfer market.”