Arsenal
2026/27 spending-room estimate
PSRwatch estimates Arsenal's 2026/27 squad-cost ratio at 64% of football income - below the 85% Green Threshold. That leaves roughly £391m of annual squad-cost room before the 115% Red Threshold. Model updated: 12 Sept 2026 · Accounts data refreshed: 19 Jun 2026. These are independent PSRwatch estimates, not official Premier League calculations.
Room to the Red Threshold
Annual squad-cost room before the 115% Red Threshold - the primary line where sporting-sanction (points) risk starts.
The 115% Red Threshold is the primary sporting-sanction line. The 85% Green Threshold is the secondary levy / allowance line.
Room before the 85% Green Threshold, above which a levy / allowance charge (not a points deduction) applies to overspend.
Player and head-coach wages (a share of the accounts all-staff bill), annual transfer-fee costs and other squad-cost items.
What this means for Arsenal
They are below the 85% Green Threshold, so no levy or sporting sanction applies on current estimates.
Confirmed transfers this summer have reduced remaining room by about £47m (+6.1 percentage points).
The old-PSR model is not expected to be the biggest issue in the 2023/24-2025/26 closeout window.
How Arsenal compare
Compare with another club →Ranked on PSRwatch's own 2026/27 estimates, not official league figures.
Why this club is in this position
2026/27 · Premier League Squad Cost Ratio - a PSRwatch model, not an official league finding.
| Football income | £767m |
| Squad cost | £491m |
| - of which wages | £272m |
| - of which amortisation | £197m |
| Player-sale profit (3-year average) | £58m |
| Room to Green Threshold (85%) | +£161m |
| Room to Red Threshold (115%) | +£391m |
- High wage bill - £272m a year is 55% of squad cost
- High amortisation - past transfer fees still cost £197m a year
- A sale would improve headroom - sale profit counts in the model straight away
- Higher football income adds room - every £1m of income covers more squad cost
- Lower wages (departures or expiring deals) reduce squad cost fastest
- Profitable three-year window - losses are not the issue
- No eligible owner equity found in the filings, so the £15m baseline allowance applies
Where to go next
Clubs in a similar position
Analysis on Arsenal
- Gabriel Martinelli leaves Arsenal: what the £58.8m sale does to their squad-cost room
- Arsenal's summer 2026 transfer window: what happened and what it did to their squad-cost position
- Ezri Konsa to Arsenal: what the £50.1m move does to their squad-cost room
- Christos Tzolis to Arsenal: what the £33.6m move does to their squad-cost room
See Arsenal's financial forecast - the income statement, projected forward from filed accounts, with every figure traceable to its source.
Season view
ProjectionSquad-cost basisWhat does this mean?
Forward-looking squad-cost estimate for 2026/27, built from public filings, reported transfer data, provider wage estimates and PSRwatch assumptions. Subject to transfer, wage, revenue and rule changes. These are unofficial PSRwatch estimates - final regulatory decisions sit with the leagues. MethodologyTransfer effect
This table translates confirmed transfer activity into spending-room impact. A transfer fee is normally spread across the player's contract as an annual transfer-fee cost. Wages, signing fees, agent fees, loans and sales then change the live squad-cost position.
| Player / item | Move | From / To | Fee | Contract | Annual transfer-fee cost | Book profit/loss | Ratio movement |
|---|---|---|---|---|---|---|---|
| Bruno Guimarães | In | Newcastle United | £74m | 4 yrs | £19m | £0m | +4.3pp |
| Christian Nørgaard | Out | Everton | £7m | Sale/no fee spread | £0m | £4m | -0.5pp |
| Christos Tzolis | In | Club Brugge KV | £34m | 4 yrs | £9m | £0m | +2.4pp |
| Ethan Nwaneri | Loan out | Borussia Dortmund | £0m | 1 yrs | £0m | £0m | -1.0pp |
| Ezri Konsa | In | Aston Villa | £50m | 4 yrs | £13m | £0m | +3.1pp |
| Fábio Vieira | Out | Hamburger SV | £8m | Sale/no fee spread | £0m | £5m | -0.9pp |
| Gabriel Jesus | Out | FC Barcelona | £8m | Sale/no fee spread | £0m | £5m | -0.9pp |
| Gabriel Martinelli | Out | Al-Hilal SFC | £59m | Sale/no fee spread | £0m | £38m | -1.7pp |
| Illan Meslier | In | Leeds United | £0m | 3 yrs | £0m | £0m | +0.9pp |
| Jakub Kiwior | Out | FC Porto | £14m | Sale/no fee spread | £0m | £9m | -0.9pp |
| Karl Hein | Out | SV Werder Bremen | £3m | Sale/no fee spread | £0m | £2m | -0.7pp |
| Leandro Trossard | Out | Besiktas JK | £15m | Sale/no fee spread | £0m | £10m | -1.0pp |
| Piero Hincapié | In | Bayer 04 Leverkusen | £34m | 4 yrs | £9m | £0m | +2.3pp |
| Tommy Setford | In | Arsenal FC U21 | Undisclosed | 4 yrs | ~£5m | ~£0m | +1.6pp |
| Tommy Setford | Loan out | Stevenage FC | £0m | 1 yrs | £0m | £0m | -0.9pp |
~ Undisclosed fees use a PSRwatch modelling estimate to derive squad-cost figures. Undisclosed or estimated sale fees are not counted as real football income until reported or filed.
Football income
The squad-cost ratio depends on football income, so PSRwatch starts from the latest filed accounts for domestic income, removes any European income inside that base year, adds this season's UEFA distributions where the club is in Europe, and adds net profit on player sales as the League's rolling three-year average.
2024/25
£721m low / £813m high
PSRwatch central estimate of this season's UEFA distributions. It adds to football income; the League's 85% / 115% lines stay the same.
Mean of the last three seasons' net profit on player sales, from filed accounts where available and reported sale fees otherwise - undisclosed-fee estimates never count as income.
Latest filed revenue baseline: 2024/25.
Central forecast starts from the committed club forecast and splits domestic football income using a league-typical modelled mix (about 18% matchday / 47% broadcasting in the Premier League) - the club's own filed mix will be used once its accounts disclose one.
Premier League participation is included in the broadcasting and commercial mix.
About GBP 97m of Champions League income sat inside the 2024/25 accounts the forecast is grown from; it is removed before this season's European line is added.
Champions League participation in 2026/27 adds a separate UEFA income line (PSRwatch central estimate of GBP 70m of distributions) and brings UEFA's separate 70% squad-cost rule into play (the League's own 85% / 115% lines are unchanged).
Net profit on player sales counts as the League's rolling three-year average (one third of each of the last three seasons' profits), not this window's sales in full.
Low/high range is a deterministic +/-6% sensitivity around central football income.
Forecast domestic income already clears the applicable Premier League floors (income >= GBP 175m, broadcasting >= GBP 95m), so no uplift was needed.
Squad-cost breakdown
Squad cost combines player and head-coach wages (the League's definition - estimated as a share of the club's all-staff accounts wage bill and never below the per-player salaries shown on this page), annual transfer-fee costs and estimated agent, signing, loan and bonus costs, compared with football income to give the squad-cost ratio estimate. The League's 85% Green and 115% Red Thresholds apply to every club. Arsenal are in a UEFA competition this season, so UEFA's separate 70% squad-cost rule also applies; it is shown under Other rule frameworks below.
The League's squad-cost test counts player and head-coach pay only. Filed accounts disclose a single all-staff figure, so PSRwatch takes 75% of the all-staff bill; assistant coaches, medical, commercial and administrative staff are outside the test.
From the club's filed accounts, grown forward: total staff costs including non-playing staff, bonuses and employer NI. Reconciliation only - not added to squad cost.
Sum of the per-player wage rows shown lower down this page: gross fixed salaries from public sources plus bounded estimates. The gap to the player-and-head-coach figure above is bonuses, image rights, employer NI and the head coach; the figure above never falls below this sum.
The League's lines are the same for every club: 85% Green, and a Red Threshold of 85% plus the club's allowance (30% this season). The allowance only shrinks after a breach of 85% in a season's accounts, and recovers by 10 points a season once the club is back inside.
As a club in the Champions League, this club must also meet UEFA's own 70% squad-cost rule. UEFA assesses it separately, on a calendar-year basis and its own definitions, and enforces it with fines and registration limits rather than League points. It does not change the League lines above.
Other rule frameworks
Arsenal are also measured against the older Profitability & Sustainability rules and, where they qualify, UEFA's squad-cost rule. Neither is the live Premier League rule for 2026/27 squad-building.
Old PSR result
No eligible owner funding is verified for this window, so PSRwatch uses the £15m baseline allowance - never an assumed maximum. Old PSR is the older three-year loss framework; it is no longer the live rule for 2026/27 squad-building. This is a public-data model, not an official league finding.
View detailed calculation
2023/24, 2024/25, 2025/26
GBP 5m per known PL/EFL season.
Total verified equity in the window - can exceed the amount the cap lets the model apply.
Capped at £90m above the baseline.
Room on the baseline allowance only.
Baseline + verified owner equity. Unavailable without verified funding.
If fully owner-funded to £105m - a labelled scenario, never the headline without verified funding.
League mix drives PL/EFL loss cap.
Owner funding note: Owner funding can affect financial resilience and, under the old PSR framework, support permitted losses. It does not automatically create new squad-cost room under the revenue-linked SCR model. Old PSR allows higher losses only where secure funding/equity is evidenced; owner and shareholder loans are excluded unless validly converted to eligible equity. Before undisclosed/private adjustments.
UEFA rules
Clubs in a UEFA competition must also meet UEFA's own 70% squad-cost rule. UEFA assesses it separately, on a calendar-year basis and its own revenue definitions, and enforces it with fines and registration limits rather than League points. This check uses PSRwatch's League-basis figures, so it is indicative only.
70% threshold
Room £46m
Player ledger
Player-level squad-cost model from contract, wage and player-registration cost data.
Per-player wages are gross fixed salaries from public sources, or a labelled estimate where no salary is published. This table is a DECOMPOSITION: the squad-cost estimate above stays anchored to the club's own filed accounts, and the difference is shown below rather than hidden.
| Player | Position | Contract end | Capitalised cost | Wage estimate | Annual transfer-fee cost | Annual squad cost |
|---|---|---|---|---|---|---|
| David Raya | Goalkeeper | 2028-06-30 | £28m | £5m | £13m | £19m |
| Illan Meslier | Goalkeeper | 2028-06-30 | £0m | £4m-£8mest | £0mfree/loan | £6m |
| Kepa Arrizabalaga | Goalkeeper | 2028-06-30 | £5m | £3m | £2m | £6m |
| William Saliba | Centre-Back | 2030-06-30 | £1m | £13m | £7mapportioned | £20m |
| Gabriel | Centre-Back | 2029-06-30 | £1m | £8m | £5mapportioned | £13m |
| Piero Hincapié | Centre-Back | 2031-06-30 | £34m | £7m-£14mest | £7m | £17m |
| Ezri Konsa | Centre-Back | Not available | £51m | £6m-£13mest | £10m | £20m |
| Cristhian Mosquera | Centre-Back | 2030-06-30 | £13m | £3m | £3m | £6m |
| Riccardo Calafiori | Left-Back | 2029-06-30 | £38m | £6m | £12m | £18m |
| Myles Lewis-Skelly | Left-Back | 2030-06-30 | £0m | £2m | £3mapportioned | £6m |
| Jurriën Timber | Right-Back | 2028-06-30 | £1m | £5m | £5mapportioned | £10m |
| Ben White | Right-Back | 2028-06-30 | £0m | £8m | £2mapportioned | £10m |
| Martín Zubimendi | Defensive Midfield | 2030-06-30 | £60m | £4m | £15m | £19m |
| Declan Rice | Central Midfield | 2028-06-30 | £1m | £12m | £9mapportioned | £21m |
| Bruno Guimarães | Central Midfield | 2030-06-30 | £75m | £8m-£16mest | £18m | £30m |
| Mikel Merino | Central Midfield | 2028-06-30 | £28m | £7m | £13m | £20m |
| Martin Ødegaard | Attacking Midfield | 2028-06-30 | £1m | £12m | £5mapportioned | £18m |
| Eberechi Eze | Attacking Midfield | 2029-06-30 | £60m | £9m | £19m | £29m |
| Christos Tzolis | Left Winger | 2031-06-30 | £34m | £5m | £7m | £11m |
| Bukayo Saka | Right Winger | 2030-06-30 | £1m | £16m | £8mapportioned | £24m |
| Noni Madueke | Right Winger | 2030-06-30 | £48m | £8m | £12m | £20m |
| Max Dowman | Right Winger | 2027-06-30 | £0m | £2m | £2mapportioned | £4m |
| Viktor Gyökeres | Centre-Forward | 2030-06-30 | £58m | £10m | £14m | £24m |
| Kai Havertz | Centre-Forward | 2028-06-30 | £0m | £15m | £4mapportioned | £19m |
| Ethan Nwaneri | SEN | 2027-06-30 | £0m | £5m-£10mest | £0m | £7m |
| Tommy Setford | SEN | 2030-06-30 | £20m | £7m | £5m | £12m |
Methodology and sources
Premier League SCR is estimated as squad costs divided by football income. Every club, European or not, is measured against the League's 85% Green Threshold and a Red Threshold of 85% plus its allowance - 115% while the allowance is the initial 30%. Spending between the two lines attracts a financial levy on the overspend; crossing the Red Threshold brings a fixed 6-point deduction plus 1 further point per GBP 6.5m spent beyond it. A breach of 85% in a season's accounts cuts the next season's allowance by the size of the breach; compliance restores 10 points a season, up to 30.
Clubs in a UEFA competition must also meet UEFA's own 70% squad-cost rule. UEFA assesses it separately, on a calendar-year basis and its own definitions, and enforces it with fines and registration limits rather than League points. PSRwatch shows it as a separate check using the League-basis figures, so it is indicative only.
Squad costs use player and head-coach wages (the League's definition: assistant coaches, medical, commercial and administrative staff are excluded), estimated as a configured share of the club's all-staff accounts wage bill and never below the per-player salaries visible in the squad table, plus annual transfer-fee cost and estimated agent, signing, loan and bonus costs. Newly promoted clubs have no Premier League accounts yet, so their all-staff bill is a labelled PSRwatch estimate built from squad wage data plus a typical uplift for bonuses, employer NI and non-playing staff.
Transfer fees are spread across contract life. Sales compare proceeds with remaining book value to estimate book profit or loss.
Football income starts from the latest filed accounts and committed club forecast for domestic income (matchday, broadcasting, commercial), removes any European income inside the filed base year, adds a PSRwatch estimate of this season's UEFA distributions for clubs in Europe, and adds net profit on player sales as the League's rolling three-year average.
Old PSR is retained only as a 2023/24-2025/26 closeout layer. Owner funding can support the old loss allowance when available and capped, but it does not create new SCR revenue capacity.
Each public snapshot is generated from PSRwatch-owned JSON files after validation, with the last good snapshot kept if an upstream refresh fails.
Arsenal latest accounts extract (2024/25) - Accounts values are parsed from Companies House filings where available, then normalised into the committed full dataset.
PSRwatch 2026/27 squad-cost forecast - Forecast uses committed income, wage, annual transfer-fee cost and transfer assumptions with deterministic rule calculations.
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Glossary
What changed
Arsenal's financial model was last published on 12 September 2026. 118 published revisions on record.
No figures changed in the latest rebuild - the published position is unchanged.
Financial forecast
Financial model built from filed accounts, sourced facts and labelled assumptions, with a forward income-statement forecast. Expand any line to see where the number comes from.
- Matchday-£35.9m
- Media & competition distributions-£74.1m
- Commercial+£0.0m
Calculated from the model itself - the same numbers as the statement lines below, not separately maintained copy.
| Line (£m) | 2020/21A | 2021/22A | 2022/23A | 2023/24A | 2024/25A | 2025/26E | 2026/27F | 2027/28F | 2028/29F |
|---|---|---|---|---|---|---|---|---|---|
Total revenueWhere this number comes from (2028/29F) CalculationTotal revenue£579.8m = matchday + media + commercial CalculationMatchday revenue 2028/29£118.0m = (60704 seats × 99.2% utilisation) × (19 league + 4 domestic cup + 0 European home games) × £85.16 per attendee ÷ 1,000,000 FactStadium capacity 2028/29: 60704 seats (official, high)60,704 seats AssumptionAttendance utilisation 99.2%99.2% Assumption19 home league matches19 matches Assumption4 home domestic cup ties4 matches Assumption0 home European ties0 matches AssumptionMatchday yield £85.16/attendee85.16 GBP CalculationMedia / broadcasting revenue£198.7m = domestic league central distribution + UEFA distributions + domestic cup prize money CalculationPremier League central distribution£198.7m = pl_total 2028/29 resolved directly: 198.7 AssumptionPL central distributions £198.7m£198.7m CalculationUEFA distribution 2028/29: zero - club not in European competition£0.0m = no European participation ⇒ no UEFA distribution EventNo European competition 2028/29 (assumed)£0.0m CalculationNot modelled for 2028/29: no evidenced domestic cup prize money CalculationCommercial revenue fy2029: 0 contracted deals + other commercial base (4 active deal(s) with unreported value excluded)£263.2m = Σ guaranteed annual values of 0 active deals (£0.0m) + other commercial base £263.2m Contractadidas (kit-manufacturer) - value not reliably reported, excluded from sum ContractEmirates (shirt-sponsor) - value not reliably reported, excluded from sum ContractEmirates (stadium-naming) - value not reliably reported, excluded from sum ContractDeel (sleeve-sponsor) - value not reliably reported, excluded from sum AssumptionCommercial base beyond registered deals £263.19m£263.2m Sources: Companies House (audited statutory accounts) · Football Ground Guide · Wikipedia · Footy Headlines · SportsPro · Arsenal FC (official) | £328.2m | £371.9m | £466.7m | £616.6m | £691.0m | £615.7m | £600.4m | £579.8m | £579.8m |
Matchday revenueWhere this number comes from (2028/29F) CalculationMatchday revenue 2028/29£118.0m = (60704 seats × 99.2% utilisation) × (19 league + 4 domestic cup + 0 European home games) × £85.16 per attendee ÷ 1,000,000 FactStadium capacity 2028/29: 60704 seats (official, high)60,704 seats AssumptionAttendance utilisation 99.2%99.2% Assumption19 home league matches19 matches Assumption4 home domestic cup ties4 matches Assumption0 home European ties0 matches AssumptionMatchday yield £85.16/attendee85.16 GBP | £3.8m | £79.4m | £102.6m | £131.7m | £153.8m | £153.8m | £138.5m | £118.0m | £118.0m |
Media / broadcasting revenueWhere this number comes from (2028/29F) CalculationMedia / broadcasting revenue£198.7m = domestic league central distribution + UEFA distributions + domestic cup prize money CalculationPremier League central distribution£198.7m = pl_total 2028/29 resolved directly: 198.7 AssumptionPL central distributions £198.7m£198.7m CalculationUEFA distribution 2028/29: zero - club not in European competition£0.0m = no European participation ⇒ no UEFA distribution EventNo European competition 2028/29 (assumed)£0.0m CalculationNot modelled for 2028/29: no evidenced domestic cup prize money Sources: Wikipedia | £184.4m | £146.0m | £191.2m | £262.3m | £272.8m | £198.7m | £198.7m | £198.7m | £198.7m |
Premier League distributions◦Where this number comes from (2028/29F) CalculationPremier League central distribution£198.7m = pl_total 2028/29 resolved directly: 198.7 AssumptionPL central distributions £198.7m£198.7m | - | - | - | - | - | £198.7m | £198.7m | £198.7m | £198.7m |
UEFA distributions◦Where this number comes from (2028/29F) CalculationUEFA distribution 2028/29: zero - club not in European competition£0.0m = no European participation ⇒ no UEFA distribution EventNo European competition 2028/29 (assumed)£0.0m Sources: Wikipedia | - | - | - | - | - | £0.0m | £0.0m | £0.0m | £0.0m |
Commercial revenueWhere this number comes from (2028/29F) CalculationCommercial revenue fy2029: 0 contracted deals + other commercial base (4 active deal(s) with unreported value excluded)£263.2m = Σ guaranteed annual values of 0 active deals (£0.0m) + other commercial base £263.2m Contractadidas (kit-manufacturer) - value not reliably reported, excluded from sum ContractEmirates (shirt-sponsor) - value not reliably reported, excluded from sum ContractEmirates (stadium-naming) - value not reliably reported, excluded from sum ContractDeel (sleeve-sponsor) - value not reliably reported, excluded from sum AssumptionCommercial base beyond registered deals £263.19m£263.2m Sources: Companies House (audited statutory accounts) · Footy Headlines · SportsPro · Arsenal FC (official) · Arsenal FC (official) | £136.4m | £141.8m | £169.3m | £218.3m | £263.2m | £263.2m | £263.2m | £263.2m | £263.2m |
Total staff costsWhere this number comes from (2028/29F) CalculationTotal staff costs£346.8m AssumptionStaff costs £346.8m£346.8m Sources: Companies House (audited statutory accounts) | £244.4m | £212.3m | £234.8m | £327.8m | £346.8m | £346.8m | £346.8m | £346.8m | £346.8m |
Other operating costsWhere this number comes from (2028/29F) AssumptionOther operating costs £220.54m£220.5m Sources: Companies House (audited statutory accounts) | £64.2m | £93.5m | £130.0m | £166.1m | £220.5m | £220.5m | £220.5m | £220.5m | £220.5m |
EBITDA◦Where this number comes from (2028/29F) CalculationEBITDA£12.5m = revenue − staff costs − other operating costs CalculationTotal revenue£579.8m = matchday + media + commercial CalculationMatchday revenue 2028/29£118.0m = (60704 seats × 99.2% utilisation) × (19 league + 4 domestic cup + 0 European home games) × £85.16 per attendee ÷ 1,000,000 FactStadium capacity 2028/29: 60704 seats (official, high)60,704 seats AssumptionAttendance utilisation 99.2%99.2% Assumption19 home league matches19 matches Assumption4 home domestic cup ties4 matches Assumption0 home European ties0 matches AssumptionMatchday yield £85.16/attendee85.16 GBP CalculationMedia / broadcasting revenue£198.7m = domestic league central distribution + UEFA distributions + domestic cup prize money CalculationPremier League central distribution£198.7m = pl_total 2028/29 resolved directly: 198.7 AssumptionPL central distributions £198.7m£198.7m CalculationUEFA distribution 2028/29: zero - club not in European competition£0.0m = no European participation ⇒ no UEFA distribution EventNo European competition 2028/29 (assumed)£0.0m CalculationNot modelled for 2028/29: no evidenced domestic cup prize money CalculationCommercial revenue fy2029: 0 contracted deals + other commercial base (4 active deal(s) with unreported value excluded)£263.2m = Σ guaranteed annual values of 0 active deals (£0.0m) + other commercial base £263.2m Contractadidas (kit-manufacturer) - value not reliably reported, excluded from sum ContractEmirates (shirt-sponsor) - value not reliably reported, excluded from sum ContractEmirates (stadium-naming) - value not reliably reported, excluded from sum ContractDeel (sleeve-sponsor) - value not reliably reported, excluded from sum AssumptionCommercial base beyond registered deals £263.19m£263.2m CalculationTotal staff costs£346.8m AssumptionStaff costs £346.8m£346.8m AssumptionOther operating costs £220.54m£220.5m Sources: Companies House (audited statutory accounts) · Football Ground Guide · Wikipedia · Footy Headlines · SportsPro · Arsenal FC (official) | £19.5m | £66.0m | £101.9m | £122.7m | £123.7m | £48.4m | £33.0m | £12.5m | £12.5m |
Player registration amortisationWhere this number comes from (2028/29F) CalculationPlayer registration amortisation£171.6m = held at the club's own last filed amortisation charge: the player subledger holds no registrations for this period and there is no filed NBV anchor to run residual cohorts off AssumptionPlayer amortisation £171.63m£171.6m Sources: Companies House (audited statutory accounts) | £117.4m | £124.6m | £139.1m | £171.1m | £171.6m | £171.6m | £171.6m | £171.6m | £171.6m |
Player registration impairmentWhere this number comes from (2028/29F) CalculationPlayer registration impairment£0.0m = no impairment assumed: impairments follow specific squad events (a player written down after injury or exclusion) and are not forecastable from public data. Any impairment would reduce the result below this base case | - | £2.5m | £18.1m | £0.0m | £15.2m | £0.0m | £0.0m | £0.0m | £0.0m |
Operating profit/(loss)Where this number comes from (2028/29F) CalculationOperating profit/(loss) excluding player trading-£159.1m = EBITDA − player amortisation; this filer does not disclose depreciation separately, so it already sits inside other operating costs and is not deducted twice CalculationEBITDA£12.5m = revenue − staff costs − other operating costs CalculationTotal revenue£579.8m = matchday + media + commercial CalculationMatchday revenue 2028/29£118.0m = (60704 seats × 99.2% utilisation) × (19 league + 4 domestic cup + 0 European home games) × £85.16 per attendee ÷ 1,000,000 FactStadium capacity 2028/29: 60704 seats (official, high)60,704 seats AssumptionAttendance utilisation 99.2%99.2% Assumption19 home league matches19 matches Assumption4 home domestic cup ties4 matches Assumption0 home European ties0 matches AssumptionMatchday yield £85.16/attendee85.16 GBP CalculationMedia / broadcasting revenue£198.7m = domestic league central distribution + UEFA distributions + domestic cup prize money CalculationPremier League central distribution£198.7m = pl_total 2028/29 resolved directly: 198.7 AssumptionPL central distributions £198.7m£198.7m CalculationUEFA distribution 2028/29: zero - club not in European competition£0.0m = no European participation ⇒ no UEFA distribution EventNo European competition 2028/29 (assumed)£0.0m CalculationNot modelled for 2028/29: no evidenced domestic cup prize money CalculationCommercial revenue fy2029: 0 contracted deals + other commercial base (4 active deal(s) with unreported value excluded)£263.2m = Σ guaranteed annual values of 0 active deals (£0.0m) + other commercial base £263.2m Contractadidas (kit-manufacturer) - value not reliably reported, excluded from sum ContractEmirates (shirt-sponsor) - value not reliably reported, excluded from sum ContractEmirates (stadium-naming) - value not reliably reported, excluded from sum ContractDeel (sleeve-sponsor) - value not reliably reported, excluded from sum AssumptionCommercial base beyond registered deals £263.19m£263.2m CalculationTotal staff costs£346.8m AssumptionStaff costs £346.8m£346.8m AssumptionOther operating costs £220.54m£220.5m CalculationPlayer registration amortisation£171.6m = held at the club's own last filed amortisation charge: the player subledger holds no registrations for this period and there is no filed NBV anchor to run residual cohorts off AssumptionPlayer amortisation £171.63m£171.6m Sources: Companies House (audited statutory accounts) · Football Ground Guide · Wikipedia · Footy Headlines · SportsPro · Arsenal FC (official) | -£97.9m | -£61.0m | -£55.2m | -£48.4m | -£63.2m | -£123.2m | -£138.6m | -£159.1m | -£159.1m |
Profit on disposal of player registrationsWhere this number comes from (2028/29F) CalculationProfit on disposal of registrations£47.7m = known transactions (subledger) + baseline assumption for windows that have not yet happened CalculationKnown disposals (subledger: fee − NBV per player)£0.0m = guaranteed fee − net book value at disposal, per player AssumptionBaseline disposal profit £47.68m£47.7m Sources: Companies House (audited statutory accounts) | £11.8m | £22.2m | £10.7m | £51.1m | £81.2m | £47.7m | £47.7m | £47.7m | £47.7m |
Finance costsWhere this number comes from (2028/29F) CalculationFinance costs£17.7m = interest on debt instruments + other finance charges + interest on opening revolver draws (in-year draws accrue from the following period) CalculationFinancing fy2029: interest £0.0m, closing debt £0.0m£0.0m = per instrument: interest = avg(opening, closing) × rate; closing debt = Σ balances after drawdowns, repayments and schedule AssumptionNet finance costs £17.69m£17.7m Sources: Companies House (audited statutory accounts) | £39.8m | £5.2m | £6.2m | £18.4m | £17.7m | £17.7m | £17.7m | £17.7m | £17.7m |
Profit/(loss) before taxWhere this number comes from (2028/29F) CalculationProfit/(loss) before tax-£129.1m = operating profit + player disposal profit + finance income − finance costs CalculationOperating profit/(loss) excluding player trading-£159.1m = EBITDA − player amortisation; this filer does not disclose depreciation separately, so it already sits inside other operating costs and is not deducted twice CalculationEBITDA£12.5m = revenue − staff costs − other operating costs CalculationTotal revenue£579.8m = matchday + media + commercial CalculationMatchday revenue 2028/29£118.0m = (60704 seats × 99.2% utilisation) × (19 league + 4 domestic cup + 0 European home games) × £85.16 per attendee ÷ 1,000,000 FactStadium capacity 2028/29: 60704 seats (official, high)60,704 seats AssumptionAttendance utilisation 99.2%99.2% Assumption19 home league matches19 matches Assumption4 home domestic cup ties4 matches Assumption0 home European ties0 matches AssumptionMatchday yield £85.16/attendee85.16 GBP CalculationMedia / broadcasting revenue£198.7m = domestic league central distribution + UEFA distributions + domestic cup prize money CalculationPremier League central distribution£198.7m = pl_total 2028/29 resolved directly: 198.7 AssumptionPL central distributions £198.7m£198.7m CalculationUEFA distribution 2028/29: zero - club not in European competition£0.0m = no European participation ⇒ no UEFA distribution EventNo European competition 2028/29 (assumed)£0.0m CalculationNot modelled for 2028/29: no evidenced domestic cup prize money CalculationCommercial revenue fy2029: 0 contracted deals + other commercial base (4 active deal(s) with unreported value excluded)£263.2m = Σ guaranteed annual values of 0 active deals (£0.0m) + other commercial base £263.2m Contractadidas (kit-manufacturer) - value not reliably reported, excluded from sum ContractEmirates (shirt-sponsor) - value not reliably reported, excluded from sum ContractEmirates (stadium-naming) - value not reliably reported, excluded from sum ContractDeel (sleeve-sponsor) - value not reliably reported, excluded from sum AssumptionCommercial base beyond registered deals £263.19m£263.2m CalculationTotal staff costs£346.8m AssumptionStaff costs £346.8m£346.8m AssumptionOther operating costs £220.54m£220.5m CalculationPlayer registration amortisation£171.6m = held at the club's own last filed amortisation charge: the player subledger holds no registrations for this period and there is no filed NBV anchor to run residual cohorts off AssumptionPlayer amortisation £171.63m£171.6m CalculationProfit on disposal of registrations£47.7m = known transactions (subledger) + baseline assumption for windows that have not yet happened CalculationKnown disposals (subledger: fee − NBV per player)£0.0m = guaranteed fee − net book value at disposal, per player AssumptionBaseline disposal profit £47.68m£47.7m CalculationNot modelled for fy2029: no evidenced finance income CalculationFinance costs£17.7m = interest on debt instruments + other finance charges + interest on opening revolver draws (in-year draws accrue from the following period) CalculationFinancing fy2029: interest £0.0m, closing debt £0.0m£0.0m = per instrument: interest = avg(opening, closing) × rate; closing debt = Σ balances after drawdowns, repayments and schedule AssumptionNet finance costs £17.69m£17.7m Sources: Companies House (audited statutory accounts) · Football Ground Guide · Wikipedia · Footy Headlines · SportsPro · Arsenal FC (official) | -£127.2m | -£45.5m | -£52.1m | -£17.7m | -£1.4m | -£93.2m | -£108.6m | -£129.1m | -£129.1m |
Tax charge/(credit)Where this number comes from (2028/29F) CalculationTax charge/(credit)-£28.4m = pre-tax loss £-129.14m × 22% credit-recognition rate, matching the filed pattern of deferred-tax assets recognised on losses CalculationProfit/(loss) before tax-£129.1m = operating profit + player disposal profit + finance income − finance costs CalculationOperating profit/(loss) excluding player trading-£159.1m = EBITDA − player amortisation; this filer does not disclose depreciation separately, so it already sits inside other operating costs and is not deducted twice CalculationEBITDA£12.5m = revenue − staff costs − other operating costs CalculationTotal revenue£579.8m = matchday + media + commercial CalculationMatchday revenue 2028/29£118.0m = (60704 seats × 99.2% utilisation) × (19 league + 4 domestic cup + 0 European home games) × £85.16 per attendee ÷ 1,000,000 FactStadium capacity 2028/29: 60704 seats (official, high)60,704 seats AssumptionAttendance utilisation 99.2%99.2% Assumption19 home league matches19 matches Assumption4 home domestic cup ties4 matches Assumption0 home European ties0 matches AssumptionMatchday yield £85.16/attendee85.16 GBP CalculationMedia / broadcasting revenue£198.7m = domestic league central distribution + UEFA distributions + domestic cup prize money CalculationPremier League central distribution£198.7m = pl_total 2028/29 resolved directly: 198.7 CalculationUEFA distribution 2028/29: zero - club not in European competition£0.0m = no European participation ⇒ no UEFA distribution CalculationNot modelled for 2028/29: no evidenced domestic cup prize money CalculationCommercial revenue fy2029: 0 contracted deals + other commercial base (4 active deal(s) with unreported value excluded)£263.2m = Σ guaranteed annual values of 0 active deals (£0.0m) + other commercial base £263.2m Contractadidas (kit-manufacturer) - value not reliably reported, excluded from sum ContractEmirates (shirt-sponsor) - value not reliably reported, excluded from sum ContractEmirates (stadium-naming) - value not reliably reported, excluded from sum ContractDeel (sleeve-sponsor) - value not reliably reported, excluded from sum AssumptionCommercial base beyond registered deals £263.19m£263.2m CalculationTotal staff costs£346.8m AssumptionStaff costs £346.8m£346.8m AssumptionOther operating costs £220.54m£220.5m CalculationPlayer registration amortisation£171.6m = held at the club's own last filed amortisation charge: the player subledger holds no registrations for this period and there is no filed NBV anchor to run residual cohorts off AssumptionPlayer amortisation £171.63m£171.6m CalculationProfit on disposal of registrations£47.7m = known transactions (subledger) + baseline assumption for windows that have not yet happened CalculationKnown disposals (subledger: fee − NBV per player)£0.0m = guaranteed fee − net book value at disposal, per player AssumptionBaseline disposal profit £47.68m£47.7m CalculationNot modelled for fy2029: no evidenced finance income CalculationFinance costs£17.7m = interest on debt instruments + other finance charges + interest on opening revolver draws (in-year draws accrue from the following period) CalculationFinancing fy2029: interest £0.0m, closing debt £0.0m£0.0m = per instrument: interest = avg(opening, closing) × rate; closing debt = Σ balances after drawdowns, repayments and schedule AssumptionNet finance costs £17.69m£17.7m AssumptionDeferred-tax credit rate on losses 22%22% Sources: Companies House (audited statutory accounts) · Football Ground Guide · Wikipedia · Footy Headlines · SportsPro · Arsenal FC (official) | - | - | £0.0m | £0.0m | £0.0m | -£20.5m | -£23.9m | -£28.4m | -£28.4m |
Profit/(loss) for the yearWhere this number comes from (2028/29F) CalculationProfit/(loss) for the year-£100.7m = PBT − tax CalculationProfit/(loss) before tax-£129.1m = operating profit + player disposal profit + finance income − finance costs CalculationOperating profit/(loss) excluding player trading-£159.1m = EBITDA − player amortisation; this filer does not disclose depreciation separately, so it already sits inside other operating costs and is not deducted twice CalculationEBITDA£12.5m = revenue − staff costs − other operating costs CalculationTotal revenue£579.8m = matchday + media + commercial CalculationMatchday revenue 2028/29£118.0m = (60704 seats × 99.2% utilisation) × (19 league + 4 domestic cup + 0 European home games) × £85.16 per attendee ÷ 1,000,000 FactStadium capacity 2028/29: 60704 seats (official, high)60,704 seats AssumptionAttendance utilisation 99.2%99.2% Assumption19 home league matches19 matches Assumption4 home domestic cup ties4 matches Assumption0 home European ties0 matches AssumptionMatchday yield £85.16/attendee85.16 GBP CalculationMedia / broadcasting revenue£198.7m = domestic league central distribution + UEFA distributions + domestic cup prize money CalculationPremier League central distribution£198.7m = pl_total 2028/29 resolved directly: 198.7 CalculationUEFA distribution 2028/29: zero - club not in European competition£0.0m = no European participation ⇒ no UEFA distribution CalculationNot modelled for 2028/29: no evidenced domestic cup prize money CalculationCommercial revenue fy2029: 0 contracted deals + other commercial base (4 active deal(s) with unreported value excluded)£263.2m = Σ guaranteed annual values of 0 active deals (£0.0m) + other commercial base £263.2m Contractadidas (kit-manufacturer) - value not reliably reported, excluded from sum ContractEmirates (shirt-sponsor) - value not reliably reported, excluded from sum ContractEmirates (stadium-naming) - value not reliably reported, excluded from sum ContractDeel (sleeve-sponsor) - value not reliably reported, excluded from sum AssumptionCommercial base beyond registered deals £263.19m£263.2m CalculationTotal staff costs£346.8m AssumptionStaff costs £346.8m£346.8m AssumptionOther operating costs £220.54m£220.5m CalculationPlayer registration amortisation£171.6m = held at the club's own last filed amortisation charge: the player subledger holds no registrations for this period and there is no filed NBV anchor to run residual cohorts off AssumptionPlayer amortisation £171.63m£171.6m CalculationProfit on disposal of registrations£47.7m = known transactions (subledger) + baseline assumption for windows that have not yet happened CalculationKnown disposals (subledger: fee − NBV per player)£0.0m = guaranteed fee − net book value at disposal, per player AssumptionBaseline disposal profit £47.68m£47.7m CalculationNot modelled for fy2029: no evidenced finance income CalculationFinance costs£17.7m = interest on debt instruments + other finance charges + interest on opening revolver draws (in-year draws accrue from the following period) CalculationFinancing fy2029: interest £0.0m, closing debt £0.0m£0.0m = per instrument: interest = avg(opening, closing) × rate; closing debt = Σ balances after drawdowns, repayments and schedule AssumptionNet finance costs £17.69m£17.7m CalculationTax charge/(credit)-£28.4m = pre-tax loss £-129.14m × 22% credit-recognition rate, matching the filed pattern of deferred-tax assets recognised on losses CalculationProfit/(loss) before tax-£129.1m = operating profit + player disposal profit + finance income − finance costs CalculationOperating profit/(loss) excluding player trading-£159.1m = EBITDA − player amortisation; this filer does not disclose depreciation separately, so it already sits inside other operating costs and is not deducted twice CalculationEBITDA£12.5m = revenue − staff costs − other operating costs CalculationTotal revenue£579.8m = matchday + media + commercial CalculationMatchday revenue 2028/29£118.0m = (60704 seats × 99.2% utilisation) × (19 league + 4 domestic cup + 0 European home games) × £85.16 per attendee ÷ 1,000,000 CalculationMedia / broadcasting revenue£198.7m = domestic league central distribution + UEFA distributions + domestic cup prize money CalculationCommercial revenue fy2029: 0 contracted deals + other commercial base (4 active deal(s) with unreported value excluded)£263.2m = Σ guaranteed annual values of 0 active deals (£0.0m) + other commercial base £263.2m CalculationTotal staff costs£346.8m AssumptionStaff costs £346.8m£346.8m AssumptionOther operating costs £220.54m£220.5m CalculationPlayer registration amortisation£171.6m = held at the club's own last filed amortisation charge: the player subledger holds no registrations for this period and there is no filed NBV anchor to run residual cohorts off AssumptionPlayer amortisation £171.63m£171.6m CalculationProfit on disposal of registrations£47.7m = known transactions (subledger) + baseline assumption for windows that have not yet happened CalculationKnown disposals (subledger: fee − NBV per player)£0.0m = guaranteed fee − net book value at disposal, per player AssumptionBaseline disposal profit £47.68m£47.7m CalculationNot modelled for fy2029: no evidenced finance income CalculationFinance costs£17.7m = interest on debt instruments + other finance charges + interest on opening revolver draws (in-year draws accrue from the following period) CalculationFinancing fy2029: interest £0.0m, closing debt £0.0m£0.0m = per instrument: interest = avg(opening, closing) × rate; closing debt = Σ balances after drawdowns, repayments and schedule AssumptionNet finance costs £17.69m£17.7m AssumptionDeferred-tax credit rate on losses 22%22% Sources: Companies House (audited statutory accounts) · Football Ground Guide · Wikipedia · Footy Headlines · SportsPro · Arsenal FC (official) | -£107.3m | -£45.5m | -£52.1m | -£17.7m | -£1.4m | -£72.7m | -£84.7m | -£100.7m | -£100.7m |
Every fact, event and agreement in this model cites at least one of these records. Tier 1 = official (filings, club, league, UEFA); Tier 2 = reliable press; Tier 3 = specialist databases, always labelled and never treated as audited figures.