Arsenal have revealed a £107 million deficit for the 2021/21 season, with Covid-19 wreaking havoc on the club’s finances.
Football being played behind closed doors has impacted teams worldwide, as seen by the Gunners’ matchday income plummeting by £75 million to £3.8 million.
For comparison, Arsenal lost £47.8 million in the 2019/20 season and £27.1 million in the 2018/19 season.
The club has today revealed new season ticket rates, with the most affordable option anticipated to cost roughly £927.
Arsenal’s statement reads: “The results for the financial year have been materially impacted by the Coronavirus pandemic, which caused the majority of matches for the 2020/21 season to be played behind closed doors.”
It adds: “Significant funding has been provided by the ultimate parent company, KSE UK Inc., which is wholly owned by the ultimate controlling party, Mr. E. S. Kroenke. During the year KSE UK Inc. provided funds to refinance the stadium finance bonds and for working capital purposes as required.
“The financial challenge remains significant, but the club continues to have the unwavering support and commitment of its ownership, Kroenke Sports & Entertainment.”
Arsenal’s finances have also been damaged by player sales, with the club earning just £14.8 million compared to £63.6 million the previous season. While matchday income decreased, broadcast revenue grew to £184.4 million as a result of enhanced distribution of coverage near the conclusion of the 2019/20 campaign and the club’s passage to the Europa League semi-finals.