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Arsenal report £44.6m pre-tax profit for 2016-17 fiscal year
Ivan Gazidis laid out Arsenal's latest financial statements on Thursday. Arsenal made a pre-tax profit of £44.6 million in the most recent fiscal year despite a record outlay on transfer fees and higher salary costs. The club released their full financial statement for the 2016-17 fiscal year on Thursday, saying total revenues had grown by more than £70m to £424m, mainly because of the increased income from the Premier League's new TV rights deal. However, the club's cash reserves decreased to £180.1m from £226.5m the previous year, mainly as a result of spending more than £100m in the transfer market. And nearly £80m of that was set aside for paying off...
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