The UEFA Financial Fair Play is round the corner and Arsenal Football Club has posted pre-tax profits of nearly £50m for the six months ending November 2011. The sales of midfield duo Cesc Fabregas and Samir Nasri during the summer transfer window – in total, £41.6m of the club’s profits came from player trading.
Barcelona paid £25.4m upfront for Fabregas, potentially rising to £35m, while Manchester City spent approximately £24m for Nasri.
Meanwhile, the Gunners splashed-out £11m on Alex Oxlade-Chamberlain and £10.7m on Gervinho, amongst others.
The £49.5m profit compares with a loss of £6.1m for the same period in 2010.
Arsenal’s cash reserves have now risen to £115.2m, up from £110.4m – however, after a heavy defeat in the first leg of the Champions League knockout tie at the hands of AC Milan, the club look likely to end a seventh successive year without a major trophy.
Arsenal have struggled for form in the league this season, but did beat local rivals Tottenham Hotspur 5-2 on Sunday.
Chairman Peter Hill-Wood told the club’s official website: ‘We are proud of Arsenal’s record and consistency over many seasons and have the foundations in place, at every level of the club, to ensure we remain a force in the seasons ahead.’
Sports billionaire Stan Kroenke took over the club in May last year, after the American increased his stake to almost 67% of the club. Uzbek oil magnate Alisher Usmanov owns approximately 29%. [Source: Sports Industry Biz]