Arsenal have announced major losses in their latest set of accounts.
Arsenal Holdings Limited confirm the loss for the financial year ending on May 31, 2021 stands at £107.3m and say the club were “materially impacted by the coronavirus pandemic”.
Playing behind closed doors for the majority of the 2020/21 season is, naturally, highlighted as a major factor. In total, match day revenue across the year fell from £75m to £3.8m while commercial revenue fell from £142.3m to £136.4m.
Overall wage costs finished at a staggering £244.4m, up £9.9m on the previous year. Sale of player registrations, meanwhile, fell from £63.8m to £14.8m.
Earlier on Monday, a four per cent rise on ticket prices was announced as the club attempt to get “a breakeven position in the medium term”.
That rise was the highest since 2014 and was followed up with the announcement of the major losses a few hours later on Monday afternoon.
The Arsenal Supporters’ Trust (AST) hit out at the rise in price, labeling the decision as “unjustified.”
