Arsenal post overall loss of £17.7m despite record revenue

Arsenal's Mikel Merino celebrates scoring their side's second goal of the game with teammates during the Premier League match at the King Power Stadium. Pic: Mike Egerton/PA Wire.

Arsenal made an overall loss of £17.7m (€21.3m) in the 2023-24 financial year despite record revenue after wage costs increased nearly 40% as the Premier League club announced their financial results on Wednesday.

The club had a 32% increase in revenue from 2023, going from £466.7m (€563.8m) to £616.6m (€745m) thanks to their return to the Champions League, where they reached the quarter-finals, as well as a strong performance in the Premier League where they finished second.