Gunners post impressive profits

Borehamwood Times: Arsenal Arsenal

Arsenal's decision to sell Cesc Fabregas and Samir Nasri helped them report a huge pre-tax profit of £49.5million for the six months to the end of November.

The Gunners, who lost £6.1million over the same period in 2010, might have made only a small profit but for the controversial departures of Fabregas and Nasri last summer for a reported £54million.

Arsenal enjoyed an overall profit on player trading of £46.1million, having made a loss of £5.9million the previous year. They made £63million overall in player sales, while there was an investment of £74.7million in new arrivals and contract extensions, the cost of both being spread evenly over the length of an individual's deal.

Arsenal's cash reserves also swelled to £115.2million, up from £110.4million, with their turnover from football rising to £113.5million from £97.6million.

Following the financial results, Gunners chief executive Ivan Gazidis reassured fans that money will be available to strengthen Arsene Wenger's squad.

He said: "There is money available, we don't talk about an exact figure - and there's a very good reason why we don't put an exact figure on that - because it would impact on our negotiating position."

Gazidis also urged supporters to lay off Wenger and roar the team on to Champions League qualification.

Wenger's stock with the Gunners faithful has sunk to an all-time low this season amid what is set to be a seventh successive campaign without silverware. However, Sunday's thrilling 5-2 derby victory over Tottenham kept the wolf from the door.

Gazidis told Arsenal Player: "We hear the noise, we understand the concern of the fans, we know that there are issues, we know we're not where we want to be. But I can tell you that this team, our manager, the players, are absolutely united in what we have to do for the rest of the season, which is to finish in the top four. It's very much in our hands."

He added: "I know that we can achieve Champions League qualification again for next year, that we can rebuild and regroup in the summer and come back strong. Victory through harmony. The strength of this club has always been its unity and our fans and our players need to come together in this fight for the rest of the season."

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