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ARSENAL have reported a staggering record loss of £107.3MILLION for the last financial year, with £85million attributed to the Covid pandemic.That is more than double last year’s financial deficit of £47.8million as matchday revenue was effectively wiped out by playing behind closed doors.
Arsenal owner Stan Kroenke and the club have raised season ticket prices by up to four per centCredit: PA
The Gunners have reported a whopping record loss of £107.3millionCredit: Getty
Mikel Arteta’s team played 31 home games during the accounting period and were only allowed to admit a grand total of 16,000 spectators during that time.
Every game at an empty Emirates Stadium cost the club around £3million, resulting in matchday revenue plummeting from £79million to a mere £3.9million.
Yet their annual wage figure remained at £244.4million and there was an additional £6.7million redundancy payment for staff who were laid off last year due to the pandemic.
The shocking figures represent a massive blow to Arsenal’s finances after 18 consecutive years of profit until 2020.
And it has forced the club to announce a four percent hike in ticket prices for next season, the first rise in seven years.
The move has been criticised by the Arsenal Supporters’ Trust, who were first informed of the planned rise at a fans’ forum meeting with chief executive Vinai Venkatesham.
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They said: “We believe the price increase is unjustified at a time when fans are experiencing pressure on their disposable income.
“Arsenal first said they were planning to increase prices during the fans’ forum, when the information was put forward as a decision already made.
“Following the Super League debacle there is supposed to be a greater effort being made by all clubs to improve supporter engagement.
“An increase in ticket pricing is exactly the sort of issue these forums should consider and we put forward some alternative options.
“But it was clear they were determined to press ahead with the headline price increase.”
The bad news for Arsenal is that next year’s accounts will almost certainly remain in the red as a consequence of the team’s absence from European football for the first time in 26 years.
This year’s figures also do not take into account the number of costly pay-offs which were handed to the likes of Mesut Ozil, Pierre-Emerick Aubameyang, Shkodran Mustafi and Sokratis.

Yet the nine-figure losses will not affect Arsenal’s plans to launch a major spending spree in the summer.
Arteta has been promised significant funds to overhaul his understrength squad by billionaire owner Stan Kroenke.
A club statement confirmed: “The financial challenge remains significant but the club continues to have the unwavering support of its ownership KSE.”
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ARSENAL have raised season ticket prices by four per cent as they get set to announce losses in excess of £100million today as the true cost of Covid is laid bare.The club reported a record £53million deficit in their annual accounts last year but now that shortfall is poised to more than double when the figures for 2020-21 are released.
Arsenal owner Stan Kroenke and the club have raised season ticket prices by up to four per centCredit: PA
Arsenal say the price hike had ‘not been taken lightly’Credit: Getty
There were 28 home games played behind closed doors as a direct result of the pandemic last season, with each game costing the club in excess of £3million.
The figures will also reflect an annual wage bill at its highest ever before a recent cull of the biggest earners including the likes of Mesut Ozil, Willian, David Luiz and Pierre-Emerick Aubameyang.
As a result Arsenal have announced the price hike but states that the decision had ‘not been taken lightly’ but is necessary due to the financial pressures they face.
It is the first time the North London club have raised their season ticket price since 2014.
The situation has been discussed with supporters’ groups and explained in the context of the emergency measures which were forced on the game by coronavirus.
The bad news is that next year’s figures will almost certainly continue to be in the red as a result of an absence from European football for the first time in 26 years as well as the costly pay-offs.
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The size of the ticket price increase depends on whether Mikel Arteta’s team can secure Champions League, Europa League or Conference League football for next term.
General admission season ticket prices will rise £49 to £1,268 if they reach the Champions League.
It will be an increase of £44 if they qualify for the Europa League and by £40 even without any European football.
An Arsenal statement said: “We recognise that no one welcomes price increases, and this decision has not been taken lightly.
“Ultimately in the face of continued rising costs, we need to continue to drive growth in all our revenue streams – including matchday – as part of our aim to return finances to a breakeven position in the medium term.”
‘UNJUSTIFIED’
The news was met with fierce criticism by the Arsenal Supporters Trust.
Following the announcement, they said: “The AST believes that the 4 per cent ticket price increase is unjustified at a time Arsenal’s overall revenues are increasing and fans are experiencing other pressures on their disposable income.
“When presented with news of the increase at the recent Arsenal Advisory Board (AAB) and Fans Forum, the AST representatives present argued against the case for any increase.
“Arsenal’s position is that in light of costs increasing much faster than revenues (and now consistently being in loss making territory) they need to develop all of their revenue streams to move the club back to financial sustainability.”
Their statement added: “Following the debacle of the Super League there is supposed to be a greater effort being made by Arsenal, and all football clubs, to greater supporter engagement and dialogue.
“An increase in ticket pricing is exactly the sort of issue these forums should be given more time to consider.”
DISCOUNTS
They have also revealed a 25 per cent discount for supporters aged between 19 and 21 after listening to supporter feedback.
Arsenal members aged 17 and 18, who get a 57 per cent discount in the family enclosure, can now also use that discount in all general admission areas from next season.
Boss Mikel Arteta has been allowed to fork out over £140million on new players over the past year.
However, Joe Willock’s £25m transfer to Newcastle was their only major sale as they also terminated two big contracts.
And they also took a big hit when firstly Mesut Ozil, in January 2021, and then Pierre-Emerick Aubameyang’s £350,000-a-week deal were ripped up with both allowed to leave for nothing.
The news also comes after it emerged Arsenal are planning a major refurb of their Emirates Stadium despite the large financial loss.
However, the cost of a general admission season ticket will actually decrease.
That is due to a ‘cup tie credit’ refund of £75.33 that is due to Arsenal not playing any home FA Cup matches this season.
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