I thought that must be why.
I also forgot Sanchez as well.
Since this time last season we have certainly got at least 4 or 500k off the wage bill.
I know Mkhitayran and Aubameyang have come in and Ozil has got more money but even that doesn’t account for the discrepancy.
Obviously timing and other factors are major in this and since it is “half-year” analysis - kind of BS anyway, but these two numbers stick out like sore thumb:
Arsenal Profit: 25 million
Profit on Player Sales: 58.4 million
I have to assume that the timing of certain revenue plays massively into this bc otherwise we took a bath other than for our profit on player sales.
I agree.
Whatever way they calculate those profit figures, it doesn’t look great.
I can only assume that not qualifying for the CL is a big factor.
Considering we are supposed to be one of the biggest profit making clubs in Europe, we’re not making much of a profit.
Selling players seems to be our biggest income.
But there are also other accounting tricks going on the other side… (e.g., cap spend get spread out).
Its true cashflow is hard to discern from all this, especially in half-year data. I would probably say that looking at our cash balance helps in assessing… I honestly don’t remember how it has trended, but I think it IS lower than before.
Also, SwissRamble has shown in the past that our margin for profit really isn’t as high as we’d like, and is definitely hurt a lot by lack of CL.
Yes. We’ve spent heavily on incomings since 2013 with few major outgoings to compensate. It was only in the last window we generated transfer income through the sales of Theo and Giroud.
Ultimately the money spent by Wenger in proportion to the results over the last couple of seasons will be the thing that pushes the board to get rid of Wenger