Arsenal announce £107.3m loss in latest accounts

Arsenal have announced a post-tax loss of £107.3m for the financial year ending May 31, 2021 in the wake of the COVID-19 pandemic.

The Gunners were forced to play the majority of their domestic and continental matches behind closed doors last season, with only a small number of fans being permitted to return in the spring.

Arsenal also ended the 2020-21 season without a trophy to their name after crashing out of the Europa League in the semi-finals, while a significant decrease in incomings from player sales also contributed to the nine-figure loss.

The Gunners posted a matchday revenue statistic of just £3.8m for the financial year - a £75m loss on the previous season - while profit from sales and loans went down to £14.8m from £63.6m in 2020.

However, a significant increase in broadcasting revenues to £184.4m from £118.9m was also recorded, with the club's progress in the Europa League helping them to increase their income via such means after a last-32 exit to Olympiacos in 2020.

Wages also increased by £9.9m to £244.4m, even with the majority of Arsenal's first-team squad accepting a pay cut during the earliest days of the COVID-19 pandemic.

In order to combat the losses, Arsenal have announced a 4% rise in ticket prices at the Emirates Stadium from the 2022-23 season - the club's first such increase since 2014.