Arsenal, a leading Premier League club, has reported record revenue of £616.6 million ($776.1 million) in the 2023-24 financial year, marking an impressive 32% increase year-on-year. This significant rise from the previous season is attributed to substantial boosts across all main revenue sectors - broadcast, commercial and matchday.
The club's return to the prestigious UEFA Champions League was a key driver behind this overall income surge. The financial report for the period ending May 31, 2024, released by the North London club today confirms their compliance with all applicable financial sustainability regulations set by UEFA and the Premier League.
Breakdown of revenue sectors
Broadcasting brought in £262.3 million while commercial activities accounted for £218.3 million – a rise of nearly £50 million – and matchday operations delivered £131.7 million. In comparison to these figures from last season (2022-23), matchday revenue amounted to only £102.6 million with broadcasting at just £191.2 million; clearly indicating that participation in Champions League games significantly contributed towards this growth.
Significant activity across Arsenal’s commercial operations included renewals and extensions with principal partner Emirates (stadium naming rights partner as well as front-of-shirt sponsor), along with a new deal with real estate brand Sobha Realty who now sponsors the club’s training center. Despite these positive developments, due to several expensive new acquisitions for men’s first team resulting in an increased wage bill from 2022-23 (£234.8m rising to £327.8m), Arsenal still reported an overall loss last year of around £17.7m following a loss of about£51.m in 2022-23.
On the field, Arsenal finished as runners-up in the EPL for two consecutive years (2023-24), behind champions Manchester City. They also made it to the Champions League quarter-finals before being knocked out by Germany’s Bayern Munich. Currently, they are second in the 2024-25 EPL, this time trailing Liverpool.
Financial struggles for rival club Manchester United
In contrast to Arsenal's financial success, Premier League rivals Manchester United reported a 12% year-on-year decrease in revenues during Q2 of fiscal year 2025. The club secured revenue of £198.7 million during Q2, down from £225.8 million during the same period in 2023.
United’s operating profits also saw a substantial decrease year-on-year, dropping from £27.5 million to just £3.1 million resulting in an overall loss of £27.7m for Q2. The decline was primarily due to broadcast income falling from £106.m to £61.m – with United competing only in Europa League this season compared to Champions League last season - negating any rise seen across commercial and matchday income sectors.
The club's minority owner Sir Jim Ratcliffe has reportedly made around 250 employees redundant and is set to initiate another round of redundancies affecting potentially another 200 staff members soon amid fears over financial viability if such cutbacks are not implemented. Ratcliffe took over operational control last February from Glazer family but his decision-making is now under scrutiny with United currently sitting at a disappointing fifteenth position out of twenty teams after nearly two-thirds into the current campaign.
