Gunners vow to use profits to boost squad

ARSENAL managing director Keith Edelman insists the club’s impressive six-monthly financial figures will be used to further the side’s ambitions — not line the pockets of investors.

The club yesterday announced profits of £20million (€26.5m) for the half-year ending November 2007 — a healthy improvement on the 2006 figures, — £12.9m (€17.1m).

Contributing factors included the new and improved overseas broadcasting deal and the good performance of the Emirates Stadium.

The pre-season Emirates Cup tournament, featuring the Gunners, Inter Milan, Paris St Germain and Valencia, contributed to a year-on-year improvement of over £3m (€3.9m) in stadium receipts.

Said Edelman: “We’ve got no plans to make any dividends to shareholders so all resources will be retained within the business.

“We’ve got ample cash to make additions to the squad.”