Arsenal reports £17.7m loss despite record £616.6m revenue

Arsenal's return to the Champions League boosts revenue, but rising wages impact finances.

Mikel Merino of Arsenal during a training session at Sobha Realty Training Centre in London Colney, England, on February 18, 2025. Photo by Stuart MacFarlane/Getty Images

By Randy Ahmad and Alana Salsabila

Arsenal reported a financial loss of £17.7 million for the 2023/24 season despite generating a club-record £616.6 million ($775 million) in revenue. The return to the UEFA Champions League after a seven-year absence significantly contributed to the club’s increased earnings, but rising wage costs prevented the Gunners from turning a profit.

The London club narrowly missed out on the Premier League title, finishing second behind Manchester City, and reached the Champions League quarter-finals before being eliminated by Bayern Munich. Their deep run in Europe's top competition, along with a strong domestic campaign, fueled a £71 million increase in broadcasting revenue and an additional £29 million in matchday income.

Commercial revenue also saw a significant rise, reaching £218.3 million. This was driven by Arsenal's renewed partnership with Emirates, which sponsors both their stadium and shirts, as well as a new deal with Sobha Realty for naming rights to their training ground.

Wage costs surge, leading to financial loss

Despite the revenue boost, Arsenal’s wage bill saw a substantial increase, rising from £234.8 million to £327.8 million. This sharp uptick in salary expenses played a major role in the club posting a financial loss for the season, though the figures were an improvement from the £52.1 million loss recorded in the previous 12 months.

In a statement, Arsenal emphasized that they remain compliant with financial sustainability regulations set by UEFA and the Premier League.

"The club continues to be compliant with all applicable financial sustainability regulations put in place by UEFA and the Premier League," Arsenal said.

The club also highlighted the importance of securing consecutive Champions League qualifications for both the men's and women's teams, viewing it as a key factor in maintaining financial stability and long-term progress.

Arsenal's strong position in 2024/25 season

Despite financial challenges, Arsenal remains in a strong competitive position. They currently sit second in the Premier League, seven points behind leaders Liverpool, with 13 matches remaining. In Europe, the team has advanced to the Champions League round of 16, keeping hopes alive for further success in the competition.

The financial results underscore the balancing act that Arsenal, like many top clubs, faces in managing squad investment while adhering to financial regulations. With continued participation in the Champions League and commercial growth, the club aims to improve its financial outlook in the coming seasons.