Home Football Arsenal’s vast riches revealed after financial results released

Arsenal’s vast riches revealed after financial results released

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Gunners have incredible amount in the bank

After releasing their financial results for the year, it’s been revealed that Arsenal have more money in the bank than Barcelona, Bayern Munich and Real Madrid COMBINED.

The results showed that they have a cash balance of £226.5million, more than the balances of Real Madrid, Barcelona and Bayern Munich combined.

It still, however, leaves them behind Manchester United, whose latest results showed a balance of ÂŁ229m.

Arsenal director Sir Chips Keswick said: “Our cash reserves at the end of the year stood at £226.5m and this figure will doubtless attract the usual speculation from fans and commentators.

“That being the case, it is my duty to point out that after excluding debt service reserves and amounts owed to other clubs on past transfers the balance reduces to £149m.

“This figure is in itself inflated, due to the seasonality of our cash flows, by advance sponsorship and season ticket receipts for the new season.

“Against the underlying balance of available funds we have, as mentioned above, invested strongly in player acquisitions during the summer at a total transfer in cost of more than £90m with additional significant commitments to player wages, agent’s fees and performance related contingencies on top of that.”

“Whilst we have spent strongly we have not over stretched,” he continued. “It would have been bad business practice not to have retained some small degree of flexibility to allow us to invest again in the right player and/or to maintain the current squad as and where we want to offer improved and extended contracts for key players.

“We make our investments on a prudent and reasoned basis which is something the Club does well and which is even more important in a competitively inflated marketplace.

“This approach has served us well and it will continue.”

 

By Ben Kelly – @benkelly_10

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