For a club that seems to place more importance in the bottom line over titles, the failure to qualify for the 2017-2018 UEFA Champions League has made a deep impact.
According to The Telegraph, while Arsenal remained profitable over the six months ending in November 2017, profits fell more than 60 percent, from around $75 million to $28.5 million. Much of the drop in profits comes from the loss in expected broadcast and commercial revenues with Arsenal in the Europa League this season.
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The money doesn’t take into account the signings of Henrik Mkhitaryan or Pierre-Emerick Aubameyang or the sale of Alexis Sanchez, but the latest financial figures also saw the team’s wage bill rise despite the poor season. It’s likely to continue to rise after the latest signings in addition to Mesut Ozil’s contract extension.
“Our strategy remains self-financing and we must accept all the challenges that brings at a time when the inflation of transfer fees, player wages and the fees demanded by agents has become super-heated,” Arsenal chairman Sir Chips Keswick said.
“As always, the actual income for the second half will be strongly influenced by the extent of progress in the remaining knock-out competition, the level of live TV coverage for Premier League games and final league position.”
Arsene Wenger – the definition of consistency through his first 20 years at Arsenal – signed a new two-year deal with the club in May 2017, despite calls for his departure from fans and the media over the past five-plus years. However, the boardroom could decide a change is necessary if profits continue to fall in 2018.