Forgot Password

 

Register

 

Create your Connect ID

This will allow you to login to all DStv websites & applications




or
Login using
x

Email Reset

 




Loading...
Loading Live Scoring...
*All times CAT (GMT+2)

Football | Barclays Premier League

Arsenal announce $27m pretax profit



English Premier League club Arsenal announced on Monday a pretax profit for the six months ending November 30 of £17.8 million ($27 million) compared to £49.5 million a year earlier.

In a statement, the north London club said £40.9 million had been spent on signing Lukas Podolski, Santi Cazorla and Olivier Giroud and extending the contracts of players including England internationals Theo Walcott and Jack Wilshere.

Player sales netted 42.5 million while turnover dropped from 113.5 million to 106 million as a result of four fewer home fixtures compared to the same period in the previous year.

The profit for the six months to November 2011 included the sale of Cesc Fabregas, Samir Nasri and Gael Clichy.

Arsenal, which is majority-owned by American Stan Kroenke, said it had no short-term debt and possessed cash reserves of 123.4 million compared to 115.2 million a year earlier.

"Our ability to compete at the top of the game here and in Europe is underpinned by our financial performance which gives the club strength and independence," chairman Peter Hill-Wood said.

Arsenal fans have become increasing frustrated by their team's failure to win a trophy since the 2005 FA Cup and have urged manager Arsene Wenger to spend freely on buying top-quality players to replace Fabregas and Robin van Persie, who was sold to Manchester United last year.

The club were knocked out of the League and FA Cups this season and they lost their Champions League last-16 first leg 3-1 at home to a clearly superior Bayern Munich side.

Wenger, whose contract expires at the end of next season, gained some relief at the weekend when his side defeated Aston Villa 2-1 in the Premier League after losing to Bayern Munich and being knocked out of the FA Cup by Blackburn Rovers.

Arsenal are fifth in the Premier League behind London rivals Tottenham Hotspur, one place off a Champions League spot. They play Tottenham at White Hart Lane on Sunday,

Shop

Gerrard: My Autobiography
Steven Gerrard is a hero to millions, not only as the inspirational captain of Liverpool FC, but as a key member of the England team.
R161.00
Rafa: My Story
Revelatory memoir from the greatest sportsman in the world today.
R182.00
Mitre Monde Soccer Ball - White
Voted as one of the UK's favourite match balls
R219.00


Comments

More expert analysis and opinion from Sport24
The opinions expressed by Sport24 experts and bloggers are theirs alone, and do not necessarily represent those of SuperSport

Sports Talk



Sunday Oliseh
El Clasico gave a glimpse of the future
Real Madrid were deserving winners of the El Clasico at the weekend. A closer look seems to reveal...

John Dykes
United’s Felli-good factor
He was on their books for 10 years as a player, won everything with them and even coached them last...

Emeka Enyadike
Conversations with Senzo
I woke up this morning to the rude shock of the senseless shooting of Senzo Meyiwa and I still...

Carol Radull
Let the chickens hatch K'ogalo
Last year was an exception but I think “it is written” that the Tusker Premier League must go down...

Arjun Vidyarthi
Listen to the fans Rodgers
While in the UK I decided to do what every Liverpool fan would try and do - catch a game.

Neil Tovey
Meyiwa will be missed
The untimely loss of Senzo Robert Meyiwa has been felt from the township of Umlazi to the Fifa...