Kieran Maguire drops Arsenal bombshell – ‘It’s a major cause for concern’
Arsenal are “underperforming” in the transfer window and need to improve player sales after recording a net spend of £230million across 2023.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that it is a ’cause for concern’ that the Gunners have struggled to make money from player sales.
Arsenal released their 2022-23 accounts last week, revealing an increase in revenue up to £465million.
However, the North London side still made an overall loss of £52million on top of a £45million loss in 2021-22.
Arsenal spent big in 2023 to strengthen Mikel Arteta’s squad with Declan Rice and Kai Havertz joining for fees worth a combined £170million.
Arsenal must fix £230m transfer problem to avoid future losses – Kieran Maguire
Maguire explained that Arsenal’s wage structure is healthy but they must improve player sales to avoid further losses.
“Arsenal did lose money, but I’m impressed that they’ve got the wages under control,” Maguire told Football Insider’s Sean Fisher.
“The wages are only 50 percent of revenue, which is good news in terms of compliance with the Uefa regulations.
“It will also likely be good news should the Premier League adopt a similar financial model for its members as well.
“Arsenal’s losses can be attributed to some one-off issues – there was a significant player write-down and they are underperforming in player sales.
“The whole point about trading is you’ve got to sell as well as buy.
“They had a net spend in 2023 of £230million which is certainly unsustainable and that is a major cause for concern.“
In other news, Kieran Maguire impressed by ‘good news for Arsenal’ after big update
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