Arsenal have announced a record loss of more than £100 million for the financial year ending 31st May 2021, attributing the majority to the impact of the coronavirus pandemic.
After losses of less than £50 million the previous year, Arsenal posted post-tax losses of £107.3 million in their latest financial statement – the biggest in the club’s history.
Matchday revenue fell by £75 million to £3.8 million.
Redundancies – 55 in total – and restructuring during the pandemic period also saw the club incur exceptional costs of £6.7 million
The total profit on player sales earned the club just £11.8 million as the likes of Shkodran Mustafi and Mesut Ozil negotiated the termination of their contracts to move elsewhere.
The financial figures were released just hours after Arsenal announced a four per cent increase in ticket prices for the 2022/23 season – the first stadium-wide increase in eight years.
