Booming Gunners cash in

Arsenal have revealed their status as Britain's richest football club following figures released on Monday which show their move to Emirates Stadium helped increase turnover to more than £200million.

The report - for the year ending May 31, 2007 - also revealed group operating profits up by an astonishing 274%, to £51.2 million. These well exceed the likes of Manchester United and Chelsea - whose respective turnover for the same period was £167.8m and £152.8m.

Commenting on the figures, Arsenal chairman Peter Hill-Wood said: "The best way that Arsenal can continue to deliver success is by maintaining a business that pays its own way."

He added: "This philosophy helped establish our objectives for the club's move away from Highbury and Emirates Stadium now provides Arsenal with the increased income, profitability, cash generation and firm financial foundations from which we will continue to build trophy winning Arsenal teams for many years to come."

The announcement also rockets Arsenal into the same financial league as Real Madrid, whose turnover was £202m for the 2005-06 season.

Arsenal's move to their new 60,000-seater home at Ashburton Grove from Highbury has proved more than a financially sound decision, with the long-term debt related to the move having also been refinanced into bonds which provide "a significant reduction" in annual service costs.

The club generated match day revenues of £90.6m in their first season, representing some £3.1m-per-game - which was more than double that of Highbury.

Meanwhile, some 91% of the units at "The Stadium - Highbury Square" redevelopment are already pre-sold, with final completion sales expected to comfortably exceed £300m.

Arsenal - currently top of the Barclays Premier League - saw their cash balances up to £73.9m, from £35.6m in 2006.

The figures are "before player trading and depreciation", and as such do not take into account the £16million sale of Thierry Henry to Barcelona during the summer or other recent transfer dealings as manager Arsene Wenger reshaped his squad.