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Heero Yuy

Arsenal announce record pre-tax profits of £56m for year ending May 31

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Arsenal have announced a record £56 million pre-tax profits for the year ending May 31, 2010.This comes as a significant rise in finances for the club, as the north Londoners have cleared their Highbury debt six months early.Last year the club announced pre-tax profits of £45.5m, which was in itself a 24 per cent increase from the year before. This year the Gunners have announced a further 18.6% increase in profits, as it rose to £56m.The property business' debt has not only been wiped clean, but has also produced a profit this year.The apartments at Highbury square and a social housing site at Queensland Road have brought about a steep rise in income, as an influx of £156.9m was mammoth £65.9m more than the the figures for the previous financial year.The club even recorded a profit from player trading, which stands at £13.6m, which is again an increase from the previous year - which generated £2.9m.The club's non-executive chairman Peter-Hill Wood said: "The most pleasing aspect of these results is that the returns generated in the property business during the year, particularly at Highbury Square, have allowed us to repay £130 million of bank loans and significantly reduce the Group's overall net debt."We now have a debt free property business which is accumulating surplus cash as further unit sales are made at Highbury Square and which has three further property assets to realise over the next few years."The club's chief executive Ivan Gazidis added: "The competitive landscape makes it ever tougher to achieve success on the field and standing still is simply not, and never has been, an option for the club. It is important that we continue to develop a vibrant and robust business with sufficient revenues to sustain success. The Group has made good progress over the last year and I am excited by the opportunities which we have in front of us."
:D
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We still got about 20 years to pay off the stadium

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Maybe you can put these statistics in your trophy cabinet?
LMFAO
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Maybe you can put these statistics in your trophy cabinet?
Lazy/I'm impressed.
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lmfaoP'z2.9 to 13.6 . . . o_O fukin ell

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Maybe you can put these statistics in your trophy cabinet?
Aston Villa's last senior honour was a League Cup win in 1996
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Something about glass houses and stones springs to mind.

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Apparently we only have the debt on the stadium left, still thats over 11m a year to repay.

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Good news. We are truly a benchmark of how a football club should be run.

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The future is looking bright.\JJ's been extremely funny lately. Keep it up fella :D

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Sik. We just need a few home ties in FA n Carling cup 4 that extra P n we well on track to payin them debts off. We set 4 years yo.

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