Arsenal chairman gives positive insight into club’s finances

Arsenal

The Gunners seemingly have the clout to spend in the transfer market this summer after posting a 2014 profit.

Arsenal chairman Sir Chips Keswick has confirmed that the club have made a profit over the last 12 months, despite a record transfer spend in 2014.

The club have posted an £11.1million profit, with a £12.6m increase in turnover to £148.5m and a £93.7m investment in the squad last summer.

The Gunners chairman has stated that despite significant expenditure on the playing squad, the North London side were in a strong financial position.

“The recent acquisition of defender Gabriel from Villarreal will take our total transfer expenditure for the year to well in excess of £100 million,” The Standard quote Keswick as saying.

“This substantial investment has inevitably led to increased amortisation and wage costs in our profit and loss account but, crucially, this remains at a level which is consistent with our principle of affordability and which is financially sustainable in accordance with the requirements of the applicable regulatory regimes.”

Arsenal fans became infuriated at the lack of splurging in the transfer market over recent years as the club looked to balance the cost of a move to the Emirates Stadium.

Along with the departures of key players, it appeared that the Gunners were more of a selling club than one that could compete with the Premier League’s heavy hitters.

However, with it being clear that Arsene Wenger could use an extra player or two this summer, there is seemingly no reason why the club cannot go out and spend big to bring top quality to the Emirates Stadium ahead of 2015-16.

Register for HITC Sport - Daily Dispatch