Premier League: €288.5m turnover for Arsenal in 2012/13 (+3.2%)

Arsenal's (Premier League) turnover has increased by €8.9m (+3.2%) between May 2012 and May 2013, to €288.5m in 2012/13, the club announced on the 23/09/2013.

The club's payroll has reached €184.2m in 2012/13, or 43.4% of the season's budget. With €142.2m in cash reserves, Arsenal have the highest equity capital in the Premier League. The club has improved its economic situation despite lower revenues, mainly provided by the sale of players. Pre-tax profits have fell by 85% from €51.4m to €7.9m between 2011/12 and 2012/13, or a decrease of €43.5m.

Commercial revenues of the club grew by 20% to €73.6m, thanks to the renegotiation of its partnership with Emirates Airline. The new contract, including the naming of the stadium is estimated at €37m per year until the 2019 season.

"The signing of Özil for a club record fee (€ 50 million) is a significant step for us," said Arsenal's chief executive, Ivan Gazidis. "This signing was a direct result of all the hard work we have put to compete for the world’s best players," he added.