‘Responsible’ Arsenal announce €46.5m profits

MANAGER Arsene Wenger believes Arsenal deserve double credit for maintaining a sensible business policy as they look to compete with other Premier League clubs bankrolled by billionaires from around the globe.

The Gunners, who revealed American businessman Stan Kroenke has accepted an invitation to join the board, yesterday announced a pre-tax profit of £36.7million (€46.5m) for the year ending May 2008 as the north London club continue to reap the rewards from their move to the 60,000-seater Emirates Stadium in July 2006.

Gate and match-day revenue totalled some £94.6m (€120.4m), which represents 45% of their overall football revenues.