Arsenal in profit despite trophyless season

September 24, 2013 by Agency Reporter Leave a Comment

The sale of striker Robin van Persie to Manchester United helped Arsenal remain in profit in 2012-13, a season when the English Premier League club again failed to win a trophy.

Van Persie’s departure to the eventual champions fuelled anger among Arsenal fans at the way the club, majority owned by American Stan Kroenke, was being run.

However, the London team finished fourth in the league to clinch a spot in the lucrative Champions League for a 16th successive season. A strong start to the current season and the signing of German Mesut Ozil have further lifted the mood.

Profit before tax was £6.7m ($10.72m) in the year to the end of May, down from 36.6 million a year earlier.

Arsenal said it made a £47m profit on the sale of Van Persie and Alex Song, the midfielder who moved to Barcelona. However, the club said it had invested £58.7m on buying new players and extending contracts.

Since the figures were compiled, Arsenal have spent an additional £42.5m on buying German playmaker Ozil from Real Madrid. They currently lead the Premier League as they seek a first major trophy since winning the FA Cup in 2005.