GUNNERS ON TARGET FOR PROFIT
ARSENAL will today post a small pre-tax profit when the club announces its financial results for the year ending May 2011.
The figure will be dramatically lower than the record £56m pre-tax profit for the previous 12 months, City PM has learned. However, that 2009-10 sum was boosted by a one-off property windfall and significant transfer proceeds, far lower in 2010-11. The club is understood to be happy with what it views as a sound off-field performance. A profit will be seen as proof the Gunners can survive solely on income from their football-related activities.
Next year’s figures are also likely to be healthier still, as the cost of summer signings, such as Gervinho, was far outweighed by sales.
Shareholders will discuss the results at the AGM on 27 October. Majority shareholder Stan Kroenke will attend and, the club hope, speak.