Arsenal still recorded an overall loss of £17.7m, up from a loss of more than £50m in the previous year. This is whilst revenue rose from £466.7M to £616.6M thanks to the club returning to the Champions League and their commercial strategy which has proven to be successful so far.
The Gunners also made a £52.4M profit on player trading, while wages soared by almost £100M from £234.8m to £327.8M with the introductions of Riccardo Calafiori, Mikel Merino and David Raya been significant factors.
Match-day revenue rose from £102.6M to £131.7M and the average attendance at the Emirates for men’s games was 60,095. Broadcasting revenues also saw a huge rise from £191.2M to £262.3M thanks to the higher levels of UEFA distribution from the Champions League compared to the Europa League last season.
Arsenal released a statement explaining their commercial strategy and how their plans have paid off to continuously improve the club.
“The renewal and extension of our agreement with Emirates led the way on partnerships but was supported by the naming rights deal for the Sobha Realty Training Centre and an increased number of secondary deals at improved valuations.
“The club’s retail operations provided another highlight with significant year-on-year growth to outperform an ambitious growth plan, and our summer 2023 tour of the USA also delivered improved revenues.
“Commercial performance was supported throughout by strong delivery from supporter-focused marketing campaigns aligned to the development of the club’s global brand.
“Player trading profits continue to have a significant impact on overall profitability and the club’s ability to realise profits during 2023/24 was again adversely impacted by market conditions with reduced overall liquidity as clubs’ acquisition budgets continued to be impacted by financial pressures.”