Arsenal have announced a £30million loss in matchday revenue for the year ending May 31 2019.
As reported by The Mirror, having previously posted a pre-tax profit of £97.4million, Arsenal have now revealed a pre-tax loss of £23.5million, with matchday revenue going down to £69million.
Without including deals from the summer transfer window, Arsenal made over £100million less in player sales, with the figure dropping from £122million to £6million.
Arsenal have retained a cash balance of £107million, while commercial earnings went up by £4million due to the partnership with sleeve sponsor Visit Rwanda.
However, Arsenal’s overall revenue went down from £388.6million to £367.5million, with the club attributing that decline to the delay in the sale of season tickets following the Europa League final.
The Gunners are currently enduring their worst run of form since 1977 and have gone nine matches without a win in all competitions.
Following the sacking of Unai Emery, the club are yet to appoint a new manager with Freddie Ljungberg currently in temporary charge.
They will hope to return to winning ways when they face West Ham United away on Monday.Copyright © 2020 Completesports.com All rights reserved. The information contained in Completesports.com may not be published, broadcast, rewritten, or redistributed without the prior written authority of Completesports.com.