Arsenal leaked financial report appears to show football turnover tops £400m for first time
Profit of £44.8m includes reduced wage bill as failure to make the Champions League means lower bonuses
ARSENAL's latest financial results show a profit of £44.8million, according to a leaked document.
Turnover from football seemingly increased to £422.8m - 'the first time the club's football revenues have exceeded £400m'.
Twitter user JDL claims to have got hold of a sneak preview of the latest Arsenal accounts.
He 'apologies for the dodgy quality' but invites Gunners' supporters to read a synopsis of the full year results 'which I believe are to be published soon'.
Arsenal seemingly have no short-term debt and the club's cash balance stands at £144.3m, compared with £191.1m in 2016.
The reduction is thought to 'follow a club record cash outflow on player transfers of £102.5 as against £54.2m in the previous 12 months.
Transferwise, the outstanding figure owed to selling clubs stands at £42.7m.
Elsewhere, a wage bill of £199m was seemingly offset by an extra £58m received from increased broadcasting rights.
It represented 47.2 per cent of all football income but was 8.5 per cent down on the previous year.
That, according to the document, was because Arsenal didn't make the Champions League so there was no need to pay associated bonuses.
The football turnover figure of nearly £423m was allegedly up from £350.6m in 2016.
Commenting on the results, chairman Sir Chips Keswick is seen to have said:
"The club's 13th FA Cup win was some compensation for the disappointment of dropping out of the Premier League's top four for the first time in 20 years.
"This summer [we] have again moved to strengthen the squad and we are optimistic about the season ahead."