Arsenal have announced a record loss of more than £100million for the year ended May 31, 2021 - attributing the majority to the impact of the Covid-19 pandemic.
After losses of less than £50million the previous year, Arsenal posted post-tax losses of £107.3million in their latest financial statement - the biggest in the club's history.
As much as £85million of that was put down to the adverse effect of Covid as the club played just two games in front of a crowd at the Emirates Stadium during the 2020-21 season - with coronavirus measures preventing live attendances for much of the campaign.
'The results for the financial year have been materially impacted by the coronavirus pandemic, which caused the majority of matches for the 2020/21 season to be played behind closed doors,' a club statement accompanying the latest figures read.
'For matches played behind closed doors there was a complete loss of ticket (and other matchday) revenue.
'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 £75 million to £3.8 million.'
Arsenal's first-team squad agreed to a voluntary pay-cut of 12.5 per cent during the pandemic, offsetting the club's outlay of wages which came in at £244million.
Redundancies - 55 in total - and restructuring during that time also saw the club incur exceptional costs of £6.7million.
The total profit on player sales earned the club just £11.8million as the likes of Shkodran Mustafi and Mesut Ozil - the highest-paid player in Arsenal's history - negotiated the termination of their contracts to move elsewhere.
The financial figures were released just hours after Arsenal announced an increase in ticket prices for the 2022/23 season.
A first stadium-wide increase in eight years will see supporters pay an extra four per cent to watch the Gunners next year.
'We recognise that no one welcomes price increases, and this decision has not been taken lightly,' a club statement read.
'Ultimately in the face of continued rising costs, we need to continue to drive growth in all our revenue streams - including matchday - as part of our aim to return our finances to a break-even position in the medium-term.'
AkoKat
0
Blame Arteta for letting our players leave for free
M_Kholis
0
Why eventually fans have to pay the loss with higher ticket price?? Kroenke is a wealth people. They must absorb this loss and it must be easy for him..
Ashikgunner123
0
They even lost revenue due to the poor performances that lead to their fans staying home
that means we'll have profit in the upcoming days cause UCL nights are coming to Emirates back again after 5 years of wait
PabloGavi1
0
blame arteta
Dennisind
0
Gooners paying sky high salaries, that's the reason, thinking that'll will bring them success.
what sky high salary everyone at arsenal receives less than 200 k ....and also there are salary reductions due to pandemic the average salary of the squad is 83k
tembikmoz
0
It's not losses, it's taxes paid overseas and invested into the real Kronke project the Super Bowl champions LA (Whoever) That's where Arsenals transferred budget for last January and no doubts this coming summer has gone. So Arsenal fans better not hold their breath in anticipation of new signings this summer, prepare for more of the same old same old. This BS of Arsenal losses is just the Kronkes giving the fans a heads up.
great minds think alike; I was thinking the SAME thing. it's a 100 million write off for the owner back in the states
Socadeikuz
2
It's not losses, it's taxes paid overseas and invested into the real Kronke project the Super Bowl champions LA (Whoever) That's where Arsenals transferred budget for last January and no doubts this coming summer has gone. So Arsenal fans better not hold their breath in anticipation of new signings this summer, prepare for more of the same old same old. This BS of Arsenal losses is just the Kronkes giving the fans a heads up.
soubcimpru
0
the only thing arsenal lost was there striker
Nebaceimr
0
Gooners paying sky high salaries, that's the reason, thinking that'll will bring them success.
shakx3m
0
They even lost revenue due to the poor performances that lead to their fans staying home
Humancal44
0
Blame the pig Arteta instead
Why?
Zuteiklmrz
0
Let people hear something in their ear here. Others losing billion dollars then you here making noise for just common $100m.
Arjenrobben11
0
What about hiring Arteta and finishing outside Europe last season?
Sosst
0
Is this the justification that arsenal have been looking for to hike up prices as if the plandemic was the fans fault🤦🏽♂️what is a loss to a billionaire & a trillion dollar franchise🤔I dont think its fair but this is business 🤕
Badhur
1
Blame the pig Arteta instead
yeseinoptu
0
It would have been worse if ArtetA has been terminating the contracts of big earners who produce less..
JamzAFC
0
The potential sales of Wilshere, Ramsey, Carzola, Aubameyang, Mustaphi, Kolasinac, Welbeck and possibly Lacazette and so on supposed to generate more than double of this loss. But Arsenal loves to learn the hard way
We should've got more money from these player sales.
Kirloscar
0
The potential sales of Wilshere, Ramsey, Carzola, Aubameyang, Mustaphi, Kolasinac, Welbeck and possibly Lacazette and so on supposed to generate more than double of this loss. But Arsenal loves to learn the hard way
Kirloscar
1
When the club is busy terminating the contracts of the players they signed with huge amount of money, allowing players to run down their contract. What do you expect???
m4verickplays
5
they just need champions league football and they can recover that money!
Gunners4ever❤
2
Arsenal are good