Victor Osimhen Arsenal EPL
Arsenal FC EPL

Arsenal are doing really well on the pitch this season but financially the club has been under some major distress since the pandemic.

The Gunners have revealed that they have suffered a loss of £107m for the 2020/21 season and most of it has been due to the pandemic.

The North London side have been bleeding as their pre-tax losses have shot up from £54m to £107m. The club’s revenue has also been impacted as it has dropped to £16m from £328m.

Out of the £107m, £85m has been attributed directly to the pandemic which is one of the main reasons why the club has been so muted in the transfer market.

Arsenal’s statement reads, as quoted: “The results for the financial year have been materially impacted by the Coronavirus pandemic, which caused the majority of matches for the 2020/21 season to be played behind closed doors.

“Significant funding has been provided by the ultimate parent company, KSE UK Inc., which is wholly owned by the ultimate controlling party, Mr. E. S. Kroenke. During the year KSE UK Inc. provided funds to refinance the stadium finance bonds and for working capital purposes as required.

“The financial challenge remains significant, but the club continues to have the unwavering support and commitment of its ownership, Kroenke Sports & Entertainment.”

Will these massive losses stop Arsenal from making the big-money signings this summer?

The Gunners had made several big signings last summer but in January they did not bring in even a single player. The lack of new signings means Arteta has a very small squad to work with but thankfully they are only focusing on the Premier League for the remainder of the campaign.

Some fans think Arsenal might look to make gamble signings next summer as well but we have a strong feeling that the Gunners are planning to break the bank.

The North London side did not have signed any new players in January but they have gone out and sold several players, thereby reducing a lot of pressure from their wage bill.

The likes of Aubameyang, Maitland-Niles and Calum Chambers have been sent out and at the end of this season, several others are also heading out of the club.

This means, Mikel Arteta will have the money as well as the dressing room space to make the big signings and he will also have the backing of his board. This though will only be possible if Arsenal can manage to secure a Champions League spot since otherwise, no big-name player will be ready to join them in the summer and sweat it out in the Europa League next season.

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