How successful has been the move to the Emirates? Well in September, Arsenal will announce a record set of turnover and profit figures. This will lay to rest once and for all the myth that the club is struggling to finance the debt that it has incurred in building the The Emirates.
Last year the club had a turnover of £200M and profits after interest of £21M.
For the six months ending November 2007, the club's turnover was £97M and a profit of £11M.
The club will announce a record turnover approaching £220M for the full year, this is because the interim figures excluded any prize money and any income from the Bruce Springstein concerts held at The Emirates. Arsenal's profits will be approaching the £30M mark.
Further good news will be announcement that the Highbury Square development is coming close to completion, this will enable the club to reduce the debt to a manageable level of £100M, freeing further resources for Arsene Wenger.
Thursday 10 July 2008
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