Tuesday 12th February 2019
AST estimate of Arsenal Holdings Accounts For the period 1 June 2017 to 31 May 2018
Arsenal would usually have published their accounts reporting on the financial year of June 2017 to May 2018 this September. They have not done so this year as a result of the club being taken private by Stan Kroenke.
The AST has previously expressed concern about the changes in ownership leading to reduced transparency and accountability and this is one example. The club now has until 28th February 2019 (nine months after financial year end) to file accounts at Companies House.
The AST will continue to monitor and comment on these accounts when they are made available after submission to Companies House but there is a long delay now after season end to see what has happened on a financial basis.
In this short note the AST has set out the financial outcomes we expect to see when the 2017/18 accounts are finally published.
Firstly, we set out a simplified overview of the Arsenal's accounts in a table format. The figures are drawn directly from the club's accounts for 2017, with the full year to 31 May 2018 being AST estimates based on the half year figures and our understanding of Arsenal's finances.
Arsenal's financial performance for the year 2017/18 shows the following developments:
|£millions||Yr to May 17||Yr to May 18|
|Football costs wages||200||235|
|Football costs other||79||82|
|Amortisation of squad||77||96|
|Property less JV share||1||9|
|Profit before tax||44
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