EPL Club Arsenal's Wage Bill Rises Nearly 30% From A Year Ago
EPL club Arsenal announced a profit before tax of $59.3M (all figures U.S.) that was “largely down to player sales,” according to Gary Jacob of the LONDON TIMES. Figures show the club’s “reliance on generating income from property deals and transfers" since it moved to the Emirates Stadium in '06. Arsenal’s wage bill rose to $232.5M at the end of May ‘12, "an increase of about 30 per cent in the past two years, and represented 60.9 per cent of the club’s revenues" from soccer. Meanwhile, the club’s income from soccer increased to $381.6M, “although overall turnover fell because of fewer property sales.” The club’s matchday income has “broadly flatlined” at $154.4M, “putting the emphasis on the club generating more money from commercial income and television revenue” (LONDON TIMES, 9/28). BLOOMBERG NEWS’ Tariq Panja noted Arsenal Holdings “doubled its profits” during the '12 fiscal year after the club sold MFs Cesc Fabregas and Samir Nasri. The team revealed that net income rose to $48M in the year ended May 31, from $20.4M, or $329 the previous fiscal year. Revenue dropped to $394M. Arsenal said that commercial sales rose $9M, “taking the income in that part of its business” to $55.5M. That amount is “lower than that achieved by rivals” (BLOOMBERG NEWS, 9/27).