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Arsenal announce loss of £45.5m for 2021-22 season

Arsenal announce loss of £45.5m for 2021-22 season

Arsenal have announced an overall loss of £45.5m in their financial results for the 2021-22 season.

The Gunners failed to qualify for European football for the first time in 25 years in the 2020-21 campaign, which had a significant impact on revenue for the most recent season.

Broadcasting revenues were hit the hardest, as Arsenal recorded a total of £146m compared to £184.4m for 2020-21, when they reached the semi-finals of the Europa League.

However, the Emirates Stadium welcomed back a full crowd of fans after teams were forced to play behind closed doors in the COVID-disrupted 2020-21 season, which bumped matchday revenue up to £79.4m from a paltry £3.8m the year before.

Wage costs also came down from £244.4m to £212.3m for the 2021-22 season, following the exits of high-earning players such as Pierre-Emerick Aubameyang and Mesut Ozil.

“The 2021-22 season was the first for 25 years in which the men’s first-team had failed to qualify for UEFA European competition. The loss of the revenue associated with UEFA football was the principal contributory factor in terms of the overall result for the year,” a statement on arsenal.com read.

Arsenal's Martin Odegaard celebrates scoring their first goal with Fabio Vieira and William Saliba on November 12, 2022© Reuters

“During 2021/22, and subsequently during the 2022 summer transfer window, the Club has invested strongly in the development of its men’s first-team playing resources.

“This investment recognises that the Club has not been where it wanted to be in terms of on-field competitiveness and that, as a minimum, qualification for UEFA competition needed to be regained, as a prerequisite to re-establishing a self-sufficient financial base.

“This investment would not have been possible without the support and commitment of the Club’s ownership, Kroenke Sports & Entertainment.”

Arsenal sit five points clear of Manchester City at the top of the Premier League table following a strong start to the 2022-23 season, but they were pipped to Champions League qualification by Tottenham Hotspur last term.

Mikel Arteta‘s side still returned to the Europa League with a fifth-placed finish, and the Gunners will be in the draw for the last 16 after finishing top of their continental group earlier this season.

“Qualification for the UEFA Europa League for 2022-23 represents a positive first step and can be viewed alongside the start to the 2022-23 season which has so far been encouraging,” the statement added.

Arsenal will take on Lyon and AC Milan in the Dubai Super Cup later this month before returning to Premier League action against West Ham United at the Emirates on Boxing Day.

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