Arsenal have revealed their status as Britain's richest football club following figures released on Monday morning which show their move to Emirates Stadium helped increase turnover to more than £200million.Moving From Highbury Proves A Hit With Gunners!
Last Updated : 24-Sep-2007 byArsenal have revealed their status as Britain's richest football club following figures released on Monday morning which show their move to Emirates Stadium helped increase turnover to more than £200million.Not only do they jump above Chelsea and Manchester United, but the Gunners are now - officially - only behind Real Madrid as the richest club in the world!
Arsenal's move to their new 60,000-seater home at Ashburton Grove from Highbury has proved more than a financially sound decision, with the long-term debt related to the move having also been refinanced into bonds which provide "a significant reduction" in annual service costs.
The club generated match day revenues of £90.6million in their first season, representing some £3.1million-per-game - which was more than double that of Highbury.
Meanwhile, some 91% of the units at 'The Stadium - Highbury Square' redevelopment are already pre-sold, with final completion sales expected to comfortably exceed £300million.
Arsenal - currently top of the Barclays Premier League - saw their cash balances up to £73.9million, from £35.6million in 2006.
