Arsenal’s latest accounts show a £1.4m loss for 2024/25 even as revenue hit a club record £691m, with higher wage costs and a player-registration impairment offsetting growth across matchday, broadcast and commercial.
Arsenal have reported an overall loss of £1.4m for the year ended 31 May 2025, despite recording club-record revenue of £691m in the same period. The figures, filed as consolidated accounts for Arsenal Holdings Limited, represent a sharp improvement on the £17.7m loss recorded in the previous set of results.
The headline loss is partly shaped by an accounting charge. Arsenal’s results include £15.2m of exceptional costs linked to the impairment of player registrations, a non-cash adjustment that reflects a reduction in the book value of certain squad assets.
Revenue growth across every mainstream
Arsenal’s revenue rose across all three major areas. Matchday revenue increased to £153.9m, attributed to a higher number of home fixtures across competitions. Broadcasting income rose to £272.8m, reflecting participation in the UEFA Champions League, while commercial revenue climbed to £263.2m following sponsorship uplift including a full year of income from Sobha Realty and the extension of the club’s partnership with adidas.
Arsenal also noted a 27% year-on-year increase in retail operations. Arsenal linked the improved underlying performance to on-pitch outcomes in 2024/25, pointing to a Premier League runners-up finish and a run to the UEFA Champions League semi-finals as key drivers of the revenue increase, particularly in broadcasting and matchday lines.
Costs and player trading: the balance behind the bottom line
The results also show the cost of competing at the top end. Wage costs rose to £346.8m, with Arsenal attributing the increase to investment across both the men’s and women’s squads. One stabilising factor remained player trading. Arsenal’s accounts show £81.2m in player trading profits, which continued to have “a significant impact in the overall financial picture as the club attempted to grow revenue while maintaining competitiveness.
In a club statement accompanying the publication, chief executive Richard Garlick said the results showed “a positive trajectory” after Arsenal’s second successive season back in the men’s Champions League, while noting the wider industry challenge of rising costs “in a regulated environment”. Arsenal’s next set of figures will be shaped by the same tension these accounts underline: continued revenue growth driven by Champions League football, weighed against an operating base that rises quickly when squads and staffing are strengthened to chase trophies.