The impact of Covid-19 is expected to be worse in 2020-21 numbers. Arsenal have reported a loss for the second consecutive fiscal year, posting a loss of £ 47.8 million ($ 66 million) in 2019-20.
Figures posted by Arsenal’s board of management
The latest figures show the club’s financial results until the end of May last year, before the end of the three-month ban of the RFPL due to the Covid-19 pandemic.
The Gunners reported a loss of £ 27.1m ($37m) for the 2018-19 fiscal year, the first time the club suffered a loss since 2002. The report says that £35 million ($48 million) of last year’s pre-tax losses attributable to Covid-19 consists of £14 million ($19 million) in lost match revenue, deferring £34 million ($47 million). dollars) of broadcasting revenues for the next financial year and £6 million of other commercial and broadcasting revenues. These losses are offset by savings of £19m ($26m), including a pay cut scheme that the first team agreed to last year.
The impact of the Covid-19 pandemic will be more evident
However, the Gunners expect the impact of the Covid-19 pandemic to be more evident in next year’s financial report due to the lack of paid viewers and other cuts. Arsenal raised £60.1m from player sales, unloading Alex Iwobi at Everton and Kristjan Bielik at Derby, among others. But the club has spent £182.2m ($252m) registering new players, including the likes of Nicolas Pepe, Kieran Tierney, William Saliba, Gabriel Martinelli, Pablo Marie and David Louise.
The Gunners spent £234.5m ($324m) on wages, a cut of £400,000 from 2019, and spent £10.4m ($14m) to change coaching staff since Unai Emery was fired in November 2019 and replaced Mikel Arteta.
Sales revenue 2019-20 is £142.3 million ($197 million), an increase of £ 110.9 million ($152 million) from the previous year thanks to a renewed partnership with Emirates and a new complete partnership with Adidas. The promotion would have been greater if they had not dropped out of the Europa League in the last 32nd stage.