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Arsenal in "excellent" financial shape with £173.3m in the bank

:Headline: Arsenal in 'excellent' financial shape with £173.3m in the bank: ID:177674: from db_amp
Arsenal chief executive Ivan Gazidis says that the club are in "excellent" financial shape after announcing cash reserves of £173.3m.

Arsenal have announced that they have £173.3m in the bank after releasing figures for the financial year ending May 31, 2014.

The North London outfit made a pre-tax profit of £4.7m, as well as a total turnover of £301.9m, which is up from 280.4m last year.

Wage costs have risen from £154.5m to £166.4m, while a reduced profit of £6.9m was made from selling players compared to last year's £47m profit.

Chief executive Ivan Gazidis told the club's official website: "The club is in excellent shape, both on and off the pitch. We are proud of our 11th FA Cup success and the reward this represents to our fans in the Arsenal community around the world.

"There is always more to do and, whether investing in the team or in training facilities which will provide long-term benefit to the club, our guiding principles are the same and our focus is clear, on delivering more on field success.

"This remains the shared ambition of our majority shareholder, Stan Kroenke, the board and everyone connected with the club. We are well placed to deliver against those ambitions."

The figures do not include the money spent during Arsenal's transfer activity in the summer window.

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3Arsenal1796234161833
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5Bournemouth178452721628
6Aston Villa178452626028
7Manchester CityMan City178362925427
8Newcastle UnitedNewcastle177552721626
9Fulham176742422225
10Brighton & Hove AlbionBrighton176742726125
11Tottenham HotspurSpurs1772839251423
12Brentford177283232023
13Manchester UnitedMan Utd176472122-122
14West Ham UnitedWest Ham175572230-820
15Everton163761421-716
16Crystal Palace173771826-816
17Leicester CityLeicester173592137-1614
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20Southampton1713131136-256
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