Arsenal Confirm Latest Profits

Profits are down at Premier League football club Arsenal (AFC:ISDX), though it still made £6.7 million.

It was revealed that profits have fallen from £36.6 million last year, despite the club making a lot of money from the sales of players such as Robin van Persie to Manchester United and Alex Song to Barcelona.

The club's chairman, Chips Keswick, stated that Arsenal manager Arsene Wenger will be given more money to spend on his squad. Last month, Wenger paid around £40 million to sign German international Mesut Ozil from Real Madrid.

"With the Ozil transfer I believe we have made a significant statement and when Arsene decides the time is right to invest again Stan Kroenke, myself and the rest of the Board will be delighted to support him," said Mr Keswick.

It was recently revealed that Premier League clubs spent more money this summer in transfer fees than in any other period in the sport's history.

According to data collected by the Deloitte's Sports Business Group, teams spent £630 million on players during the summer transfer window.

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