What Recession?
Highbury proving a millstone for Arsenal’s finances
There was good news and bad news on Thursday as Arsenal reported their half-yearly financial results.
While the football side of the Gunners’ business is in rude health with pre-tax profits up £4.5m to £24.5m thanks to increases in both broadcasting revenues and matchday turnover at the Emirates Stadium, the dip in the UK housing market is impacting on Arsenal’s property business.
In this day and age I can’t blame anymore for making a profit but most owners bankroll a team for the love of a club/game not for profit. Besides most owners make tons of money on the back end when they sell off their interest in a club for much more than they originally purchased it for.
It’s nice to see Arsenal in good economic health just spare me Arsenal with the we are poor excuses compared to lavish spending by Manchester City and Chelsea over the years when you have banked nearly 50 million in the last six months.