The club says that the loss is mainly due to the consequences of the corona pandemic. The club estimates the negative effects of the health crisis at around 101.5 million euros.
Arsenal played only 2 games for their home crowd. The players of the London club did agree to a wage cut of 12.5%, but the salary burden was still 291 million euros.
Arsenal previously announced that tickets will increase by about 4 percent next season in the 2022-’23 season. A decision that was heavily criticized by the supporter groups.
“The financial challenge remains great for Arsenal, but the club still has the unwavering support and commitment of its owner, Kroenke Sports & Entertainment,” the statement read.
Despite the heavy losses, Arsenal sprinkled the millions last summer. More than 167 million euros was purchased. Albert Sambi-Lokonga who came over from Anderlecht was one of their million-dollar purchases.
Arsenal did say goodbye to some monster contracts with Mesut Ozil, Shkodran Mustafi and Pierre-Emerick Aubameyang, among others.
After a difficult start, the Londoners are having a great season in the Premier League. With a few more catch-up matches ahead of us, a place in the top 4 is certainly realistic.
