Kieran Maguire: Arsenal ‘hit hard’ as £250m blow revealed
Arsenal have lost over £250million in the last four financial years – and it is now critical that they qualify for the Champions League this term.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the Gunners’ most recent set of accounts released on Friday (2 December).
The North Londoners revealed £45.5m loss for the 12 months ending 31 May 2022, a period which saw them miss out on Champions League qualification on the final day of the season.
Mikel Arteta’s side are on course to finish inside the top four this campaign if not go one further and challenge for the title.
Maguire revealed that Arsenal now trail the biggest wage payers in the league by £100m per year, meaning that they will struggle to attract elite talent the longer they go without top-level European football.
“Not qualifying for the Champions Legaue in recent years has hit Arsenal hard,” he told Football Insider’s Adam Williams.
“The losses over the last four seasons now exceed £250m before tax. That is going to be challenging to sustain.
“Things have improved this season but it is imperative that they get back into that competition.
“If we look at their wages, they have substantially decreased. Their wage bill is well over £100m less than that of Man United and Man City.
“That will make more and more challenging to recruit players who ae ultimately looking for the best wages.“
In other news, ex-Premier League referee claims Bukayo Saka may receive special treatment after “horrible” Arsenal reveal.