Arsenal Sees Lower Fiscal-Year Profits On Lower Player Sales

EPL club Arsenal saw a decline in profits for the fiscal year ended May 31 after the London soccer club “earned less from selling players and wage costs rose.” Net income declined to $9.3M (all figures US) from $47.5M in the year-ago period despite revenue increasing from $389.6M to $448.9M. The team earned $75.4M from player sales, which was $29.7M less than it earned in ’12. The club’s wage payments surpassed $240.5M for the first time (BLOOMBERG NEWS, 9/23).