increased turnover in the latest financial figures
released by the club on Friday.
The results, which covered the year ended 31 May,
2014, also revealed Arsenal had cash reserves of
£173m.
Profit was down £2m from the corresponding 2013
results with turnover up to £301.9m from £280.4m,
driven by improved broadcasting income, new
commercial deals and their FA Cup success.
Wages were up by £12m to £166.4m, representing
55.7 per cent of football revenue, with players such
as Theo Walcott, Aaron Ramsey and Jack Wilshere
all signing improved contracts.
For the first time in several seasons, Arsenal did not
sell any star players last season and profit on sale of
player registrations up to 31 May was reduced to
£6.9m from £47m in the same period for 2013.
With Arsenal's £390m switch to a new 60,000-
seater home at Ashburton Grove in 2006 being
funded by a long-term fixed-rate bond repayment,
the group reported cash balances up to £173.3m,
from £119.6m last year.
Chief executive Ivan Gazidis vowed the board would
continue to support manager Arsene Wenger in
aiming to keep Arsenal challenging for honours.
"The club is in excellent shape, both on and off the
pitch," Gazidis said.
"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."
Arsenal Sp
Sent from my BlackBerry® wireless handheld from Glo Mobile.