Arsenal announce increased turnover

Arsenal have announced an increased turnover for the financial year ending May 31, 2014.

The FA Cup holders revealed on Friday that overall turnover stood at £301.9 million, over £20m up on last year's figure of £280.4m.

Their profit was recorded at £4.7m, down £2m from 2013, while the club's cash reserves stand at £173.3m, up markedly from the £119.6m recorded last year.

The figures showed that wages represented 55.7 per cent of football revenue, less than the 63.6 per cent seen in 2013.

Arsenal have developed a reputation for selling their star players in recent years, with Cesc Fabregas, Samir Nasri and Robin van Persie all moving on to boost the club's coffers, arguably to the detriment of their on-field fortunes.

This season has seen the club buck that trend somewhat, with the likes of Alexis Sanchez and Danny Welbeck arriving at the Emirates Stadium, while full-back Bacary Sagna represented the highest-profile departure.

"The club is in excellent shape, both on and off the pitch," said chief executive Ivan Gazidis.

"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."