Arsenal Announce Financial Details for 2013-14 Season

Arsenal announced their latest financial results based on the 2013-14 campaign. The club pointed to its triumph in the FA Cup as one of the key reasons its total turnover topped 300 million, an increase of more than 20 million from the previous season.The Gunners released the key details on their official site. Other numbers of note include overall wage costs of 166.4 million, a 6.9 million profit on the sale of player registrations and a total cash balance of 173.3 million.Comments from chairman Sir Chips Keswick were included in the report. He was pleased with the direction of the club."Our revenues have exceeded 300 million, underpinned by TV and the significant progress made on our commercial agenda, and our improved financial position has allowed us to supplement the squad with important new signings," he said. "Our ambition is to put Arsenal Football Club at the pinnacle of the game here and in Europe. We all want to savour a repeat of the joys of last May."Jeremy Wilson of Telegraph had more detail:Accounts for the year ending May 31, 2014 were published on Friday by Arsenal and revealed that the annual wage bill had increased to 166.4 million, while revenues exceeded 300 million for the first time in the clubs history.This summers transfer activity, however, is not included in the accounts and the net increase to the wage bill following the arrivals of Alexis Sanchez, Danny Welbeck, Mathieu Debuchy, David Ospina and Calum Chambers is around 25 million. That would put the wage bill for this current 2014-15 season at just over 190 million.Chelseas most recently disclosed wage bill was 176 million, for the year ending 2012-13, but theTelegraphcan reveal that this figure has stayed virtually static over the past two years amid the departures of older, higher-profile players like Frank Lampard, Ashley Cole and Fernando Torres.The Daily Mail provided the bottom-line profit for the term:The financial results are based on a period that ended on May 31. So all of the numbers are based on information before the club made several key signings during the summer transfer window.Alexis Sanchez, Danny Welbeck and Mathieu Debuchy were among the players brought into the squad by manager Arsene Wenger. Tapping into those reserve funds in order to bolster the roster is something supporters are always clamoring for, and the club delivered.The club also qualified for the Champions League, which is always helps generate more revenue, especially if the side is able to make a deep run.Looking ahead, it will be interesting to see next year's results after the spending spree. Even as the amount of income generate last year went up, the overall profit was still a shade below 5 million. So they aren't working with huge margins.That said, Arsenal probably wouldn't mind going slightly into the red if the result was more trophies. That's always the goal when you splash for a couple major signings in the same window. Now it's time for the players to deliver.Read more World Football news on BleacherReport.com
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