By Tony Attwood
That is a very good question in the headline, and like so many good questions it is not easy to answer. But here’s a simple try and at answer. Arsenal have a long waiting list for season tickets. So they could put all the prices up, and although many fans would be thoroughly disgruntled it is more than likely that they would get enough money in. Worse, just because Tottenham can fill their stadium watching a team come 17th in the league two seasons running, there is not saying that will last. They might be in greater trouble than they think.
And there is still a further problem. For the trouble is the players’ agents would see what the club was up to, and want and share of the extra money for their players, so the financial demands on the club would increase. Besides, other clubs would of course all like to buy our top players and agents are not slow at saying “Club X is offering 10% more a week than you are. I’m going to recommend he asks for a transfer unless you match the other club’s offer.”
“But we can’t afforde to pay more,” says Arsenal, “we made a loss for each of the last five years.”
“Sorry to hear that,” says the agent, But you’ll get a fair few million selling the player I represent to Manchester City. They seem to have no end of money. So up to you of course….”
Arsenal of course have been able to invest much more in players and player salaries since they made the move from not playing in Europe at all (two eight place finishes), playing in the Europa League and now playing in the Champions League. This has all helped the club, but as ever, the players are as aware of the moves as anything. Their agents argue that the move from nothing in Europe to a Champions League final is down to the players… so the players want more reward/
So there are pressures both ways. The players’ agents press for more more because the club is earning more, and the fans are always aware that their seats are costing more than those in comparable seats in pretty much any other Premier League ground.
So for every time someone ways the club is earning more, there are people who quite reasonably saying they want more.
Of course it is admitting that Arsenal’s income has risen by half as much again over recent years because of this move from 8th place finishes to winning the league. But the costs go up, so as a result Arsenal has continually reporedt losses and as indeed the word from within the club is that the next set of figures is going to show a very big loss for season 205/26. Of course we all loved the result – a League title and an almost in the Champions League..
The aim here is not to report the details figures for the club each year – if you haven’t seen them there is a report from Arsenal Independent Supporters Assn (AISA.org) which goes into detail. Membership of the association is worth it just to gt the report.
But in essence in the year to May 2025 Arsenal brought in £691m and their costs were £756m. So there we are: a loss for something like the sixth year in a row. But worse than that there is an implication. If the club cannot make a profit by winning the league and getting to the final of the Champions League, how is it going to make a profit? The answer has to be by cutting costs.
Now Arsenal are not the only club in this position. Many of clubs in each division are suffering in the same way – and some of those which don’t much (or many no) Europea income are doing far worse.
In fact only one club seems to have got around this, ManC, and they have done it by getting sponsorship levels the likes of which no other club has ever seen. That’s why there is so much dispute about what they have been up to and why such a huge case it running against them.
This article will conclude in the next publication on this site later today.