Wenger’s transfer kitty to benefit from £9m increase in profits

ARSENE WENGER will continue to enjoy a “sufficient” transfer kitty to take into the January sales as Arsenal reported an increase of almost £9 million in pre-tax profit, but also saw overall debt climb to £153.3 million.

The Gunners have invested heavily in their new Emirates Stadium, set to open for the start of next season and the financial results of the club’s parent company, which were released this morning, showed an expenditure in excess of £94m on the project during the year ending May 31, 2005. Over the same period, the group’s overall net debt increased to £153.3m, from £141.3m in 2004.

Despite the scale of the North London club’s long-term financial commitments, cash reserves remain healthy and are reported at £63.1m, up from £17.6m last year, while the figures also revealed pre-tax profit had risen from £10.6m to £19.3m.