Arsenal records £30m annual profit drop English Premier League (EPL) club Arsenal has reported almost a £30 million reduction in its group profit before tax for the year ending May 31, 2013. Arsenal’s group profit before tax was £6.7 million versus 2012’s figure of £36.6 million. This compares to the 2011 figure of £14.8 million and 2010’s £56 million profit. Arsenal said the downturn was due in part to a lower surplus on player transfers of £47 million, despite the £24 million sale of Robin van Persie to Manchester United, compared to £65.5 million in the prior year. The club’s football-related revenues increased by over £7 million and turnover from football increased to £242.8 million versus 2012’s figure of £235.3 million. This was mainly driven by commercial activity including the club’s extended partnership with Emirates worth a reported £150 million. Arsenal’s current kit deal with Nike is due for renewal at the end of this season and it also stands to benefit from the Premier League’s lucrative new broadcast deals with BSkyB and BT Sport this season, which could increase revenues by around 50 per cent.
Posted on: Wed, 25 Sep 2013 07:13:23 +0000
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