Football

Arsenal have £173 million in the bank for new signings

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Arsenal have announced profits of £4.7 million for the past financial year today, while also revealing that they have cash reserves of £173million. 

Boss Arsene Wenger has come in criticism this week after his side fell to a 2-0 defeat in the Champions League against Borussia Dortmund for failing to buy a defensive midfielder or reinforce his defence during the summer transfer window - and the news that Arsenal are sitting on a pile of cash is likely to infuriate the club's fans.

Profit

Overall their profit was down just over £2 million from the previous year, while their total revenue topped the £300 million mark for the first time. That figure is up from £280.4 million the previous year.

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New deals for the likes of Theo Walcott, Aaron Ramsey and Jack Wilshere has driven up wages to £166.4 million which accounts for more than half of all revenue, while that figure will rise when signings like Alexis Sanchez are accounted for next year.

Stars

Despite the promising news off the pitch will be welcomed, Arsenal fans will be more concerned with the piles of cash sitting in the club's bank account doing nothing. They were reportedly quoted £25 million for Sami Khedira over the summer, and the German would have certainly been able to solve their midfield problems.

It was reported at the time that Arsenal were put off by his £150,000-per-week wage demands, but even if they were to cough up that figure over a four year contract and his transfer fee they would still have well over £100 million - and they could have used that to sign any of the world's top stars, including Cristiano Ronaldo. 

High profile

The Portuguese ace is said to be going for around £60 million with Manchester United and Chelsea interested in landing him. Arsenal were actually close to signing the former Manchester United player before he arrived at Old Trafford but missed out - something Wenger admitted he still 'regrets' this week.

Overall it has been a tough start to the new season for Arsenal - they've got six points from their first four Premier League fixtures to go along with their defeat in Germany this week. They'll be hoping for a more positive result when they take on Aston Villa at Villa Park this weekend.

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Topics:
Arsenal
Football
Manchester United
Cristiano Ronaldo
Premier League

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