Izuchukwu OkosiPremier League title-chasing Arsenal on Tuesday announced a post-tax loss of £52.1 million for the fiscal year ended 31 May 2023.
The team’s loss marks a £6.6m increase compared to previous year 2022 and is attributed by the club to “impairment write-downs on certain player registrations amounting to £18.1m”.
Join our WhatsApp ChannelOverall, football revenue for the year was £464.6 million (up from £369.1 million in 2022) and attributable to noteworthy increases in matchday, broadcast and commercial revenue aided by a return to European football and improved results on the pitch.
Arsenal Holdings Limited similarly published its consolidated accounts for the year ended May 31, 2021 that was a financial loss.
The loss for the year after taxation was £107.3 million (2020 – loss of £47.8 million).
Following additions to player registrations at a cost of £251.1 million and amortisation charges, the book value of intangible fixed assets (player registrations) was increased to £417.0 million (up from £333.5 million in 2022).
The north London giants have continued to comply with the FFP regulations put in place by UEFA and the Premier League.
Meanwhile, the Gunners have reportedly already made an offer reported in the media go be in the region of £51m for Everton midfielder Amadou Onana.
Izuchukwu Okosi is a Nigerian sports and entertainment journalist with two decades of experience in the media industry having begun his media journey in 2002 as an intern at Mundial Sports International (MSI) and Africa Independent Television (AIT), owners of Daar Communications Plc.
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