Tuesday, October 04, 2016

£226m! Arsenal have more cash than European giants combined

A rsenal have released their figures for the 2015/6 financial year and the results are incredible.

The Gunners have a cash reserve of £226.5million, which according to The Sun , suggests they have more money than Real Madrid, Barcelona and Bayern Munich combined. There was a drop-off in profit before tax from £18.2m to £2.9m but the turnover of Arsenal Holdings plc increased from £329.3m to £350.6m.

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.
"Whilst we have spent strongly we have not over stretched." Chief executive Ivan Gazidis' report added: "We are in a
strong position to continue moving forward at every level of
the club.

"Our ultimate ambition is clear: to win major trophies and make Arsenal fans at home and around the world proud of this great club.

"Proud of our values, proud of the way we act and proud of
our team."
    Photo credit: Arsenal. Com

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