Football club's income jumps 46% following move from Highbury
Arsenal football club’s move from Highbury to its 60,000-seat Emirates stadium in north London has boosted its results for this financial year.
The results to 31 May reveal its income is £200.8m, a massive 46% increase from £137.2 the previous year.
The £220m stadium was delivered by Sir Robert McAlpine last July, two weeks early and on budget.
Peter Hill-Wood, Arsenal chairman, said: "The best way that Arsenal can continue to deliver success is by maintaining a business that pays its own way.
"This philosophy helped establish our objectives for the club's move away from Highbury, and Emirates Stadium now provides Arsenal with the increased income, profitability, cash generation and firm financial foundations from which we will continue to build trophy-winning Arsenal teams for many years to come.”
More than 90% of the housing units at "The Stadium - Highbury Square" development at their former stadium are already pre-sold, with final completion sales expected to exceed £300m.