This means the Gunners experienced a loss for the second financial year in a row. They previously declared a £27.1m loss for the 2018-19 financial year, the first time the club had a loss since 2002.
reportedly have lost
due to the
crisis, in which
attributed to the loss of matchday revenues. The deferral of £34m of broadcasting revenues into the next financial year and £6m of other commercial and broadcasting revenue losses all add to their financial struggles as well.
However, a cost-saving of £19m), including the wage reduction scheme that the first-team squad agreed to last year, helps them to keep a balance in these troubling times.
Having offloaded Alex Iwobi to Everton and Krystian Bielik to Derby, Arsenal raised
, including the likes of Nicolas Pepe, Kieran Tierney, William Saliba, Gabriel Martinelli, Pablo Mari, and David Luiz. The Gunners have spent
on wages, a reduction of
from 2019, and spent
in changing the