Arsenal finances show Gunners in good health but fans angry over investment
Arsenal have published their financial results and the club appears to be in good health - news that could cause a backlash from fans unhappy manager Arsene Wenger has not invested more heavily in the playing squad, the Daily Mail has reported.
Peter Hill-Wood, the Arsenal chairman, confirmed the club had reserves of more than £120m, having announced a pre-tax profit of £17.8m for the six months to November. Hill-Wood said he understood the concern of fans, with the club going trophy-less since 2005 and facing a struggle to qualify for next year’s Champions League, but insisted that the model that has allowed such positive results is to remain in place.
The results include the money received for the sales of Robin van Persie to Manchester United and Alex Song to Barcelona, and are down on the year prior, when Arsenal posted a pre-tax profit of £49.5m, having sold Samir Nasri and Gael Clichy to Manchester City and Cesc Fabregas to Barcelona.
Hill-Wood said: “While we have our sights set on a 16th straight season in the Champions League, our ambition is to win trophies.
“Nobody is more focused on that than our manager Arsene Wenger, majority shareholder Stan Kroenke and the board. It is what we work towards every day. Let me be quite clear that our intention is to keep our best players and recruit new talent to make us stronger.”
A spokesman for the Arsenal Supporters Trust, Tim Payton, replied: “Fans have contributed to this financial health through paying some of the highest ticket prices in world football. AST members want to see this money used for more and better investment in the team.”
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