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Arsenal hit £37m JACKPOT!

Premiership giants Arsenal are looking strong and in great shape on the pitch. And off it, the Gunners appear in excellent health, too.

They have just announced a profit of £37 million from last season, with income rising by 11% to £232m even though they failed to win any silverware.

Arsenal chairman Peter Hill-Wood was upbeat about his club’s ever strengthening financial position:

“We are committed to operating the club as a business which is financially self-sustaining,” he said.

“This is clearly demonstrated having achieved our second-highest ever pre-tax profit of £36.7m.

“Over the last two seasons Emirates Stadium has taken our football revenues to a new level, but we cannot be complacent.

“The final profits and cash to be released to the club on completion of these property developments has not been budgeted by the club and will be treated as a bonus when received – accordingly, there is no commitment to use any such profits and cash at any specific time for any specific purpose.”

But not everything looks rosy for the Gunners. A £37m profit has been followed by a 12% rise in debt from last season to £318m as a result of borrowing money to redevlop the club’s old Highbury Park ground.

Anyway, Arsenal’s profits do make them strong off the pitch and hopefully over the next few years this will be reflected in on-the-pitch successes.

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