LONDON – Arsenal on Monday announced record losses of £107.3 million ($143 million) for the financial year ending May 31, 2021.
After losses of less than £50 million in the previous year, the Premier League club hit their highest ever post-tax losses in their latest financial statement.
Around £85 million of that downturn was blamed on the coronavirus pandemic as Arsenal played just two games in front of a crowd at the Emirates Stadium during the 2020-21 season.
“The results for the financial year have been materially impacted by the coronavirus pandemic, which caused the majority of matches for the 2020/21 season to be played behind closed doors,” an Arsenal statement said.
“For matches played behind closed doors there was a complete loss of ticket (and…
