Arsenal announce financial losses of £107m

Arsenal have announced losses of £107m for the 2021/21 season, with Covid-19 blowing a major hole in their club finances.

Football being played behind closed doors has disrupted clubs around the world, with this being seen in the Gunners' matchday revenue bringing in just £3.8m, falling by £75m.

For context, Arsenal recorded losses of £47.8m and £27.1m for the 2019/20 and 2018/19 seasons respectively.

The club have just announced new season tickets prices, with the cheapest option expected to set fans back around £927.

Arsenal's statement reads: "The results for the financial year have been materially impacted by the Coronavirus pandemic, which caused the majority of matches for the 2020/21 season to be played behind closed doors."

It adds: "Significant funding has been provided by the ultimate parent company, KSE UK Inc., which is wholly owned by the ultimate controlling party, Mr. E. S. Kroenke. During the year KSE UK Inc. provided funds to refinance the stadium finance bonds and for working capital purposes as required.

"The financial challenge remains significant, but the club continues to have the unwavering support and commitment of its ownership, Kroenke Sports & Entertainment."

Player sales have also harmed Arsenal's finances, raking in just £14.8m compared to £63.6m the previous term. While matchday revenue fell, broadcasting increased to £184.4m due to the distribution of coverage towards the end of the 2019/20 campaign and the club's progress to the semi finals of the Europa League.

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