“That being the case, it is my duty to point out that after excluding debt service reserves and amounts owed to other clubs on past transfers the balance reduces to £149m.
“This figure is in itself inflated, due to the seasonality of our cash flows, by advance sponsorship and season ticket receipts for the new season.
“Against the underlying balance of available funds we have, as mentioned above, invested strongly in player acquisitions during the summer at a total transfer in cost of more than £90m with additional significant commitments to player wages, agent’s fees and performance related contingencies on top of that.”
“Whilst we have spent strongly we have not over stretched,” he added. “It would have been bad business practice not to have retained some small degree of flexibility to allow us to invest again in the right player and/or to maintain the current squad as and where we want to offer improved and extended contracts for key players.
“We make our investments on a prudent and reasoned basis which is something the club does well and which is even more important in a competitively inflated marketplace.
“This approach has served us well and it will continue,” said the boss.
Arsenal football club has shown a tremendous and magical increase in turnover from football, from £329.3m up to £350.6m over the same period in 2015.
That is why Forbes has ranked Arsenal FC the richest football club in the world or currently, in season 2016-2017. These are the latest reports as at the start of October 2016. Any adjustments in terms of rankings shall be updated here.