Arsenal have announced a record loss of over £100million for the year ended May 31, 2021 – attributing the majority to the impact of the coronavirus pandemic.

After losses of less than £50million the previous year, Arsenal posted post-tax losses of £107.3million in their latest financial statement – ​​the largest in the club’s history.

Up to £85million has been attributed to the negative effect of Covid, as the club only played two games in front of a crowd at the Emirates Stadium during the 2020-21 season – with coronavirus measures preventing live viewers for much of the campaign.

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“The results for the financial year were significantly impacted by the coronavirus pandemic, which meant that the majority of matches in the 2020/21 season were played behind closed doors,” read a club statement accompanying the latest. figures.

“For matches played behind closed doors, there was a complete loss of ticket revenue (and other matchdays).

“Despite 31 home matches (23 Premier League, including four matches postponed following the suspension of the 2019/20 season, six UEFA Europa League and two domestic cup matches), only two of those matches were played with fans in attendance. As a result, matchday revenue fell from around £75m to £3.8m.

Arsenal’s first team agreed to a voluntary 12.5 per cent pay cut during the pandemic, offsetting the club’s £244m wage bill.

Redundancies – 55 in total – and restructuring during this period also resulted in exceptional costs of £6.7million for the club.

Total profit on player sales brought the club just £11.8million as Shkodran Mustafi and Mesut Ozil – the highest-paid player in Arsenal’s history – negotiated the termination of their contracts to move elsewhere.

The financial figures were released just hours after Arsenal announced a ticket price increase for the 2022/23 season.

A first stadium-wide increase in eight years will see fans pay an extra 4% to watch the Gunners next year.

“We recognize that no one is happy about price increases, and this decision has not been taken lightly,” a club statement read.

“Ultimately, in the face of continuing rising costs, we must continue to drive growth across all of our revenue streams – including matchdays – as part of our goal to bring our finances back into balance at middle term.”


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