Arsenal Holdings Limited has now published its consolidated accounts for the year ended May 31, 2020.
The loss for the year after taxation was £47.8 million (2019 – loss of £27.1 million).
The financial results have been materially impacted by the coronavirus pandemic and the consequent lockdown and suspension of the 2019/20 football season.
Matches from the closing part of the 2019/20 season, including the club winning the Emirates FA Cup for a record 14th time, were completed in the next financial year, ending May 31, 2021.
Pre-tax losses of £35 million were directly attributable to COVID-19. The impacts of the pandemic have extended into season 2020/21 and are ongoing. Matches continue to be played without fan attendance and consequently the club is operating without one of its key revenue streams.
Since the year end, the Group has refinanced its stadium finance bonds and undertaken a range of cost-cutting measures. These steps will ensure the club is well placed to respond once the situation starts to improve.
The club continues to have the unwavering support and commitment of its parent company, Kroenke Sports & Entertainment, and its ultimate owner Stan Kroenke.
The full report can be found here.
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