Arsenal chairman Sir Chips Keswick and CEO Ivan Gazidis believe the club is in rude health both on and off the pitch after the latest financial figures, for the year ended 31 May 2014, were released.
Stressing that there remains much work to be done, Gazidis heralded last May’s FA Cup triumph – the 11th in the club’s history – as a major stepping stone in returning Arsenal to the top of the pile both domestically and in Europe.
“The club is in excellent shape, both on and off the pitch,” Gazidis told Arsenal.com. “We are proud of our 11th FA Cup success and the reward this represents to our fans in the Arsenal community around the world.
“There is always more to do and, whether investing in the team or in training facilities which will provide long-term benefit to the club, our guiding principles are the same and our focus is clear, on delivering more on field success.
“This remains the shared ambition of our majority shareholder, Stan Kroenke, the board and everyone connected with the club. We are well placed to deliver against those ambitions.”
Pleased that the club have been able to reinvest significant funds in five new signings this summer, Gazidis also preached that Arsenal’s commitment to youth development remains unwavering with further cash being ploughed into an upgrade of facilities at Hale End and London Colney and extending the scouting network.
“I must stress that our long held philosophy, to identify and develop young players, remains key to our future. With this in mind Andries Jonker has succeeded Liam Brady as our Head of the Youth Academy. Andries joins us from Vfl Wolfsburg and has an outstanding track record of developing young talent. He established the Dutch FA’s world renowned youth development programmes and he will bring this expertise to bear as we build on Liam’s outstanding legacy of the past 17 years.
“We are also putting significant financial investment into our youth development activities. The first phase of extensive refurbishment work has been completed to our facilities at Hale End and work on a second phase is well underway. We are investing in new staff and looking at the very latest techniques in sports science and physical development.
“We are also looking to strengthen our global scouting networks to ensure we find the very best young talent in the game. This is important to our long-term success and it is a policy we will continue to pursue vigorously.
“Investments are also being made in people and infrastructure at our London Colney training centre. We are putting forward plans for improvements which will take us to the next level in terms of fitness and preparation facilities and I look forward to work getting underway in 2015.”
Revealing that gross turnover had increased to over £300 million – thanks predominantly to an increase in funds from the sale of TV rights and the renewed partnership with Emirates – Sir Chips added:
“Our revenues have exceeded £300 million, underpinned by TV and the significant progress made on our commercial agenda, and our improved financial position has allowed us to supplement the squad with important new signings. Our ambition is to put Arsenal Football Club at the pinnacle of the game here and in Europe. We all want to savour a repeat of the joys of last May.”
- Group profit before tax was £4.7 million (2013 – £6.7 million).
- The group’s total turnover amounted to £301.9 million (2013 – £280.4 million).
- Turnover from football increased to £298.7 million (2013 – £242.8 million) driven mainly by Premier League broadcasting, the FA Cup run and commercial activity including a full year of the Club’s extended partnership with Emirates.
- Taking account of increased costs, principally wage costs, operating profits (before depreciation and player trading) from football increased to £62.1 million (2013 – £25.2 million).
- Wage costs of £166.4 million (2013 – £154.5 million) represented 55.7% of football revenue (2013 – 63.6%).
- Profit on sale of player registrations was reduced to £6.9 million (2013 – £47.0 million).