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Arsenal financial results show that cash reserves drop dramatically
Arsenal manager Arsene Wenger believes the Gunners have moved into a new financial era at the club which enables them to compete at the top end of the transfer market. Arsenal swung to a net loss of £3.4 million for the first half of the fiscal year, while the club's cash reserves dropped dramatically compared to six months earlier to £135.9m. Arsenal presented their financial results for the six-month period ending Nov. 30, 2015, and said the net loss -- compared to a net profit of £6.2m for the same period the previous year -- was largely due to lower income from selling players. The club's turnover from football-related activities rose 6.4 percent to £158m but the...
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