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Premier league side Arsenal have made a profit of £49.5 million for the six month period ending in November.

Arsenal announce huge profits for the last period

£41.6 million came from the sale of Cesc Fabregas to Barcelona, and the sale of Samir Nasri to Manchester City.

Arsenal themselves have struggled this season and look like not winning a trophy for a seventh successive year.

The Arsenal fans have called on the Club to buy new players, but so far they have refused to do so.

Despite these profits the Arsenal have said not all the money would be going for new players.

This is what chief executive Ivan Gazidis had to say: “It’s important to understand that not all that money’s available to invest in transfers.”
“We have running costs of the club, player salaries and so on, so that amount goes down during the year. We also have to keep something in reserve in case things don’t go our way.”

Chairman Peter Hill-Wood gave his backing to manager Arsene Wenger saying: “We are proud of Arsenal’s record and consistency over many seasons and have the foundations in place, at every level of the club, to ensure we remain a force in the seasons ahead.”

With American billionaire Stan Kronke owning 67% of the clubs shares it will be interesting to see if some of Arsenals profits are used in his desire to buy the Los Angeles Dodgers baseball team.

It is reputed that he has offered over £900 million for the team.

The other major shareholder is Uzbek oil man Alisher Usmanov with 27%.

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