Arsenal FC has reported a loss of £52.1m in its 2022-23 accounts, representing an increase from the £45.5m loss a year ago.
The Premier League football club has attributed much of the growing loss to ‘impairment write-downs on certain player registrations amounting to £18.1m’.
These losses are believed to be primarily related to Nicolas Pepe, who became Arsenal’s record signing when he joined the club for £72m in the summer of 2019.
Arsenal’s men’s side did return to European football in the 2022/23 season, but only reached the round of 16 in the Europa League. But a second-place finish in the Premier League contributed significantly to the improved underlying figures with an increase in matches and with it a rise in matchday revenue also a factor.
Broadcast revenue rose from £146m to £191.2m with the club also reporting improved commercial revenues, up to £169.3m from £141.7m.
Wage costs increased to £234.8m, from £212.3m which was mainly ‘driven by investment in player wages in both men’s and women’s teams.’
The club also achieved a total profit of £12.2 million from player sales and loans.
A club statement read, ‘During 2022/23 and subsequently during the summer 2023 transfer window, the club has again invested strongly in the development of its men’s first-team playing resources.
‘This investment recognises that qualification for UEFA competition represents a pre-requisite to re-establishing a self-sufficient financial base.
‘We have also continued to invest strongly in Arsenal Women and the women’s game continues to experience significant growth in interest and support.’
ARSENAL SCORES TRAINING GROUND PARTNER
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