Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Arsenal profit rise despite record transfer spending

28 February 2015, 07:43

LONDON - Arsenal remain a beacon of financial sobriety in the Premier League with an overall profit before tax of 11.1 million pounds ($17.16 million) in 2014 despite a record transfer outlay of more than 90 million pounds.

The club embarked on an unprecedented spending spree on players in the previous 12 months including the high-profile arrival of Chile forward Alexis Sanchez among a number of additions to the squad in the close season.

Yet their financial results for the six months ending Nov. 30 last year, published on Friday, show turnover from football rose to 148.5 million from 135.9 million in 2013, while cash reserves jumped to 138.8 million, up 18.2 million.

"Our commitment to investment in the squad was evidenced by a record level of expenditure on players joining the club," chairman Chips Keswick said in a statement.

"Crucially, this investment remains at a level which is consistent with our principle of affordability and which is financially sustainable in accordance with the applicable regulatory regimes."

Also read: Arsenal crash to Monaco defeat

Arsenal, whose financial model contrasts with many of their Premier League rivals who operate with large debts, said the rise in turnover was accompanied by "strong growth in commercial activity driven by the new kit partnership with PUMA".

The news that Arsenal are sitting on huge cash reserves, however, is likely to prompt renewed calls from fans for the club to invest further in the playing squad.

Under manager Arsene Wenger, Arsenal have a reputation for being frugal in the transfer market compared to the teams they are competing with at the top of the league.

Manchester United, for example, invested about 150 million pounds on players in the close season in an effort to end their European exile.

For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page.

- Reuters


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...