Arsenal Announces £52.1 million Tax Loss

Arsenal Announces £52.1 million Tax Loss

Despite setback, Gunners linked with Everton's Amadou Onana for £51m
2 months ago
1 min read

Premier League title-chasing Arsenal on Tuesday announced a post-tax loss of £52.1 million for the fiscal year ended 31 May 2023.

The team’s loss marks a £6.6m increase compared to previous year 2022 and is attributed by the club to “impairment write-downs on certain player registrations amounting to £18.1m”.

Overall, football revenue for the year was £464.6 million (up from £369.1 million in 2022) and attributable to noteworthy increases in matchday, broadcast and commercial revenue aided by a return to European football and improved results on the pitch.

Arsenal Holdings Limited similarly published its consolidated accounts for the year ended May 31, 2021 that was a financial loss.

The loss for the year after taxation was £107.3 million (2020 – loss of £47.8 million).

Following additions to player registrations at a cost of £251.1 million and amortisation charges, the book value of intangible fixed assets (player registrations) was increased to £417.0 million (up from £333.5 million in 2022).

The north London giants have continued to comply with the FFP regulations put in place by UEFA and the Premier League.

Meanwhile, the Gunners have reportedly already made an offer reported in the media go be in the region of £51m for Everton midfielder Amadou Onana.

Izuchukwu Okosi is a Nigerian sports and entertainment journalist with two decades of experience in the media industry having begun his media journey in 2002 as an intern at Mundial Sports International (MSI) and Africa Independent Television (AIT), owners of Daar Communications Plc.

In October 2004, Okosi joined Complete Communications Limited, publishers of Complete Sports newspaper and Complete Football magazine as a reporter and later script writer for the Complete Sports studio.

He worked there for 13 years until October 2017.

Okosi also worked various times as Correspondent, Content creator and Editor at Sports Market International Magazine, Opera News, All Nigeria Soccer Media and Iconic Media Watch.

He also undertook freelance writing gigs for some local and international organizations.

Okosi is a member of the Actors Guild of Nigeria (AGN), Association of Movie Producers (AMP), Association of Voiceover Artistes of Nigeria (AVOA), Sports Writers Association of Nigeria (SWAN) and Nigeria Union of Journalists (NUJ).

He has been part of cast in some Nollywood movies and radio dramas including Blood Money 2, Scores To Settle, Dead End 2, Another Campus Tale and Battle Line.

Aside mainstream media and the entertainment industry, he has interests in scouting/unearthing of talents in the sports and creative sectors, exports business and property development.

Izuchukwu Okosi is a Nigerian sports and entertainment journalist with two decades of experience in the media industry having begun his media journey in 2002 as an intern at Mundial Sports International (MSI) and Africa Independent Television (AIT), owners of Daar Communications Plc.

In October 2004, Okosi joined Complete Communications Limited, publishers of Complete Sports newspaper and Complete Football magazine as a reporter and later script writer for the Complete Sports studio.

He worked there for 13 years until October 2017.

Okosi also worked various times as Correspondent, Content creator and Editor at Sports Market International Magazine, Opera News, All Nigeria Soccer Media and Iconic Media Watch.

He also undertook freelance writing gigs for some local and international organizations.

Okosi is a member of the Actors Guild of Nigeria (AGN), Association of Movie Producers (AMP), Association of Voiceover Artistes of Nigeria (AVOA), Sports Writers Association of Nigeria (SWAN) and Nigeria Union of Journalists (NUJ).

He has been part of cast in some Nollywood movies and radio dramas including Blood Money 2, Scores To Settle, Dead End 2, Another Campus Tale and Battle Line.

Aside mainstream media and the entertainment industry, he has interests in scouting/unearthing of talents in the sports and creative sectors, exports business and property development.

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