http://www.bbc.co.uk/news/business-17180296 Madness. Does it mean the reported cost of our purchases were exagerated?
Are now out: http://www.arsenal.com/news/news-archive/42211/arsenal-holdings-plc-financial-results -Group profit before tax was £49.5 million (2010 - loss of £6.1 million) -Profit on sale of player registrations amounted to £63.0 million (2010 - £4.0 million) -£74.7 million of investment in new players and extended contracts pushed amortisation charges up to £17.3 million (2010 - £10.1 million) The resulting profit from player trading was £46.1 million (2010 - loss of £5.9 million) -Turnover from football rose to £113.5 million (2010 - £97.6 million) with increases from match-day (four additional games played) and commercial income streams -Operating profits (before depreciation and player trading) from football increased to £15.2 million (2010 - £9.4 million) -Period of minimal activity, as expected, in the property business with turnover of £3.2 million (2010 - £22.5 million) and operating profits of £0.5 million (2010 - £3.3 million) -Group has no short-term debt and continues to have a solid financial platform from cash reserves of £115.2 million (2010 - £110.4 million). While these are good results, what I don't to understand is that no profits seem to be coming from matchday revenue, the majority of our profit came from player sales, with the rest coming from our property sales. Didn't we move to the Emirates in order to make good profits from matchday revenue that would allow us to compete? Anyways, we have cash reserves of over 115 million, and just made a profit of just under 49 million, so Wenger should be given at least 50-60 million to spend in the summer.
Wait to read the actual accounts - as some of the numbers in the BBC link are wrong. I had heard the rumour of the £50M profit. Its worth pointing out that these profits come from the least profitable half of the year. For the full year Arsenal's profits are likely to be close to £100m.... unless of course we invest it. We have about £120-£150m to spend on players if we wanted to.
Gazidis has also said that this is not just for transfers though, so we don't have this figure as a 'war chest'
I don't trust that guy Gazidis. He just sounds like he's pulling a fast one. Next season we must strengthen the squad, especially if we get 4th place. We haven't bought any Marquee signings since the invincibles. We've had our tight period now its time to buy players we need and move on. We won't be as lucky next season....
He said this last year too - it was bollocks then as well. Cash outflows happen during the year, as do cash inflows (except for season tickets). We make more money in a year than we spend - the cash we have at the start of the year is going UP year on year. Yes there will be times when outflows are greater than inflows and you need to dip into reserves, but its highly unlikely to be anywere even close to £120m! By the way Arsenal have changed the way they are reporting cash - i wonder why????? Also interesting - though I am sure coincidence - that these huge profits (driven from player trading) have been released after beating Spurs 5-2. Gazidis is not to be trusted.
The financial results were always going to be announced today regardless of the result of yesterday's game. Personally i haven't the slightest interest in money matters,the only thing that interests me is how the team performs on the pitch
Well it should interest you when they sell our best players and don't replace them properly. They made a shambles of the whole Fab and Nasri affair which affected our early season performances on the pitch....
Agree - the vast majority of profit came from the net profit from transfer dealings. As our club goes backwards, the profit rolls in.
Thats not the point, did we replace him? No. Did we replace Fabs? No. We had the cash but didn't use it properly and much too late. It was shocking planning from the management in my opinion. They should have sold both much earlier and got replacements in time. This has a lot to do with our poor prep for the season and the resulting hammering at the hands of Man U...
I can understand they want to save money and pay off the debt, but not reinvesting money from 2 of our best players was inexcusable. It's not like we weren't profitable before selling those players was it? It goes down as poor management all round and thats why we are holding onto 4th place by our teeth!
But they don't need to pay off the debt quickly. The rumoured £15-20m interest payment per season is minimal and certainly shouldn't affect the power of us buying players.
I read on JA606 that Arsenal FC didn't make a loss in 2010 but the group did. The footballing side don't make a loss, it always makes money thanks to player trading and gate receipts. The property side of the group made the loss. Another reason why Kroenke needs to dip his fingers in his pocket !
surely if they're posting 45m profits...that's AFTER player trading - so AFTER the 60m outlay in summer. So they spent 60m and STILL made 45 in profit right?? That means they could spend 80m+ per summer and still register a 20m profit
The profit came from player trading. This profit of £45m plus about £50m from cash in the bank prior to last year plus money from outgoing players of around £30m should be used in the summer = £125m. It wont be though.
We can have all the money in the world but unless we sort out our silly wage structure, we won't be able to attract the best players. Our wage bill is simply too large and needs to be trimmed urgently. Im suprised the penny pinchers at Arsenal haven't done anything about this... We have carp like Denilson et al sucking wages from us and not contributing and we were not able to buy Mata and give him the wages he deserves. He is a true match winner and doing the business for Chelsea. Just imagine if we bought him.....damn depressing thinking about how we fugged that up!
the structure is a massive mess. Djourou isn't worth 50k!! he should be on 30ish. the structure needs a massive overhaul.
Yup. I think wenger knows adn tried to offload deadwood in the summer. But the price tag they put on people like bendtnar was unrealistic and cost us selling them all. We should give people free to get them off the books if nessecary
