Prmier League club Arsenal have released their 2016-17 fiscal year financial results.
Another year, another financial report showing that the North London club Arsenal have lots of cash.
The Premier League club Arsenal released their 2016/17 financial results for the recent fiscal year this Thursday, however it looks like they were rather forced to do so after it was ‘leaked’ –
The most exciting part of the results is that the Gunners revenue has passed the £400m bench mark for the very first time. Revenue inreased from £70million to £424million, mostly due to a £58million increase in TV revenue.
The much-talked about cash reserve, meanwhile, dropped from £226.5million to £180.1million due to the Gunner’s big summer spending in the transfer market. Over £100million was spent on signing the likes of defender Shkodran Mustafi, midfielder Granit Xhaka and forward Lucas Perez to the club during the 2016 summer window.
The same report also notes that £80million of that figure has been reserved to pay off debts and former transfers, meaning that the Gunners cash reserve is a lowly £100million.
Arsenal’s net spending reached £203million, as a whole lot was spent on new recruits and not a lot was recovered from the sales of disposed players.
The wage bill also increased drastically £4million to £199.4million.