Arsenal, heavyweights from English soccer’s top-tier Premier League, secured revenue of £464.6 million ($586.5 million) in the 2022-23 financial year, up from £369.1 million in the previous year.

All of the revenue sectors – broadcasting, commercial, and matchday – saw substantial rises during the 12 months up to May 31, 2023. While the club still reported a pre-tax loss of £34 million, this is an improvement from the 2021-22 loss figure of £45.4 million.

The loss came with operating expenses also having increased in 2022-23, rising to £521.9 million from £432.8 million the prior year.

Broadcasting income rose from £146 million to £191.2 million, commercial from £141.7 million to £169.3 million, and matchday from £79.4 million to £102.6 million. This marks the first season matchday earnings have amounted to over £100 million since 2014-15.

The 2022-23 season saw Arsenal return to pan-European UEFA competition – they did not take part in any such matches in 2021-22 – meaning broadcast income from the UEFA Europa League was secured in addition to that deriving from their Premier League performance.

The club has said that commercial revenues, meanwhile, improved after a new strategy in that sector was launched, through which “particularly strong results from its retail operations” were delivered.

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The addition of matches in the Europa League second-tier competition also gave the North London club’s matchday income a boost, as 24 men's first-team fixtures took place in the 12 months.

Given that the club secured this increased revenue last season partly due to its Europa League participation, this season – in which Arsenal are currently involved in the knockout stages of the top-tier UEFA Champions League – is likely to yield equally significant income.

In terms of its year-end cash position, meanwhile, that rose to £42.8 million, up from £30 million in 2021-22.

Arsenal finished second in the Premier League last season and were knocked out at the round-of-16 stage of the Europa League.

The team have said they continue “to be compliant with applicable financial sustainability regulations put in place by UEFA and the Premier League.”

Multiple other Premier League sides are currently being investigated on suspicion of falling foul of these profit and sustainability regulations.

These results come with Arsenal currently lying in third in the 20-team Premier League – two points behind leaders Liverpool – and having reached the round of 16 of the Champions League.

Earlier this month, Arsenal expanded their commercial tie-up with Sobha Realty, through which the Dubai-based real estate developer has become the club’s first training ground naming rights partner.

That facility – which opened in 1999 – is now known as the Sobha Realty Training Centre.

The financials have also arrived with the managing director (MD) post at Arsenal set to change hands ahead of the 2024-25 campaign.

Richard Garlick, 47, who has been the London club’s director of football operations since May 2021, will move into his new role when current Arsenal MD Vinai Venkatesham leaves at the end of the ongoing 2023-24 season.

Late last month, meanwhile, Arsenal were placed in 10th position in the Deloitte Football Money League table of the 20 clubs (worldwide) that generated the most revenue across 2022-23.

The club has been owned by US billionaire businessman Stan Kroenke since 2011.