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Arsenal EmiratesGetty
Daniel Edwards

Arsenal suffered £107.3m loss in 2021 as Covid-19 ravaged club's bank balance

Arsenal
Premier League

The club revealed significant losses on the same day that a rise in ticket prices was announced at the Emirates

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Arsenal have confirmed that the club suffered an operating loss of £107.3 million in 2021 as a result of restrictions stemming from the coronavirus pandemic.

Covid-19 has caused huge financial difficulties across the world of football since first arising just over two years ago.

The Gunners are no exception, losing millions in revenue and as a result pushing up ticket prices.

What was said?

"Arsenal Holdings Limited has now published its consolidated accounts for the year ended May 31, 2021. The loss for the year after taxation was £107.3 million (2020 – loss of £47.8 million)," Arsenal confirmed in a statement released on the club's official website.

"The results for the financial year have been materially impacted by the coronavirus pandemic, which caused the majority of matches for the 2020/21 season to be played behind closed doors.

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"For matches played behind closed doors there was a complete loss of ticket (and other matchday) revenue. Pre-tax losses (unaudited) of £85 million (2020 - £35 million (unaudited)) are considered to be attributable to the impacts of COVID-19."

What has caused Arsenal to lose money?

Unsurprisingly, as the club signals, loss of matchday and ticket income plays a huge part in their 2021 shortfall.

According to Arsenal's figures, matchday revenue fell from £75m to £3.8m in the past 12 months as a result of playing many of their home games behind closed doors as a result of the pandemic.

They were at least able to make up some of the difference through increased broadcasting revenues, which jumped from £118.9m to £184.4m compared to 2020.

Delays in the season ticket renewals process also had a big effect on Arsenal's year-end financial position, with income from that sector down to £18.8m compared to £110m the previous year.

Fans upset with ticket hike

On the same day that Arsenal's losses were announced, the club confirmed that tickets at the Emirates Stadium would be rising by 4 per cent, a move which was condemned by the Arsenal Supporters' Trust.

“The AST believes that the 4% ticket price increase is unjustified at a time Arsenal’s overall revenues are increasing and fans are experiencing other pressures on their disposable income," the body fired in reaction to the news.

"We pointed out to the club that in recent years they have secured big increases to other commercial and broadcast revenue streams and that the Premier League have just announced further big increases to future broadcast revenues and UEFA forecasting further increases too."

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