Saturday 25 February 2017

Arsenal Make £191.1m Turnover In 6 Months

Arsenal have announced half-year results which show a record investment in players of £110.5m, and an increase in football turnover to £191.1m. The figures for the parent holding company of the Premier League club are for the six months ending November 30, 2016.
During the 2016 summer transfer window, Arsenal's signings included Granit Xhaka for £38.25m and Shkodran Mustafi for £34.85m, while forward Lucas Perez arrived in a £17m deal. There was an overall group profit before tax of £12.6m, compared to a loss of £6.2m for the same period in 2015. Arsenal have no short-term debt, with cash reserves of £100.5m, which is down from £135.9m a year ago.

However, it is understood some £65m of that is committed on outstanding transfer fees and payments, while there is also a balance designated solely for debt service reserves of £23.3m.
The Gunners also continue to pay off the financing of their 60,000-seater Emirates Stadium home via a long-term fixed-rate bond at a low interest rate, following their move from Highbury in 2006.

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