As a team in transition, Arsenal saw some losses in its last`fiscal year — but also saw signs of hope.
The Premier League team took an operating loss of $55.9 million in the fiscal year ending May 2022.
- That figure was a significant improvement on last year’s $131.9 million loss.
- The team saved around $39 million in wages compared to the previous year.
- But broadcasting revenue dropped from $225 million to $178 million.
Arsenal benefitted from the lifting of pandemic restrictions, with matchday revenue rising by around $51.6 million to $453.7 million.
The club failed to qualify for any European competitions in the 2020-21 season for the first time since 1994-95, which led to heavy spending on player contracts.
“This investment recognises that the Club has not been where it wanted to be in terms of on-field competitiveness and that, as a minimum, qualification for UEFA competition needed to be regained, as a prerequisite to re-establishing a self-sufficient financial base,” the club wrote.
Arsenal credited owners Kroenke Sports & Entertainment for its willingness to invest in the team.
The move has borne fruit this season with Arsenal’s return to the Europa League, the second-tier competition to the UEFA Champions League. The team has already earned $8.4 million for its appearance there, with total potential earnings up to $22.1 million.