Arsenal Posts Losses Of £107m

Arsenal has published its consolidated accounts for the year ending May 31, 2021, which show a loss after taxation of £107.3m.

The results show losses more than doubled from £47.8m in 2020 due to the continued impact of the coronavirus pandemic which caused the majority of matches for the 2020/21 season to be played behind closed doors.

For matches played behind closed doors there was a complete loss of ticket and other matchday revenue. Pre-tax losses (unaudited) of £85m (2020 – £35m (unaudited)) are considered to be attributable to the impacts of COVID-19. 

Football revenue for the year was £327.6m, down from £343.5m in 2020. Despite playing 31 home matches (23 Premier League, including four fixtures deferred consequent to the 2019/20 season suspension, six UEFA Europa League and two domestic cup ties) only two of these games were played with any fans present.

As a result, matchday revenue fell by some £75m to £3.8m. However, broadcasting revenues increased to £184.4m reflecting distributions relating to the completion of the 2019/20 season and the club’s progress to the semi-finals of the Europa League.

Commercial revenues were slightly reduced to £136.4m (£142.3m in 2020) mainly as a consequence of pandemic-related factors.

Overall wage costs increased to £244.4m from £234.5m in 2020, with underlying growth in player wages offset by cost saving measures in response to COVID-19, including a wage reduction scheme agreed by the first-team players.

The club incurred exceptional costs of £6.7min connection with staff restructuring measures taken in response to COVID-19 impacts.

Player sales turned a profit of £11.8m, significantly down from the £60.1m generated in 2020 and player loans amounted to £3.1m.  The club’s average annual profits on the sale of player registrations over the last five years, including 2020/21, have been £42.2m.

Source & Image: www.arsenal.com