Cash flow analysis: Arsenal's cash reserves take a hit as squad investments haven't paid off
3 March 2020
Huge cash reserves help Arsenal fund net cash outflows of £64 million with no new capital raised during the year.
With average yearly acquisitions of £126 million over the past three years, Arsenal have yet to seize the returns by regaining Champions League football.
This year's loss of £27 million and a 25 per cent decrease in cash balance raise doubts about the durability of owner Stan Kroenke's self-sustaining business model.
Arsenal's recently published 2019 annual accounts revealed a rare bottom-line loss of £27 million. With the second-highest cash balance in the Premier League in 2018 though, Arsenal owner Stan Kroenke once again avoids having to inject any capital into the club, who sustain themselves entirely by their own operations.
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