re: EPL clubs as a whole turn record profit

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Arsenal have posted a £4.7m profit and reported increased turnover in their latest financial figures released on Friday.

The results, which covered the year ended May 31 2014, also revealed the club had cash reserves of £173m.

The profit was down £2m from the corresponding 2013 results with turnover up to £301.9m from £280.4m, driven by improved broadcasting income, new commercial deals and their FA Cup success.

Wages were up by £12m to £166.4m, representing 55.7% of football revenue, with key players such as Theo Walcott, Aaron Ramsey and Jack Wilshere having all signed new, improved contracts.

For the first time in several seasons, Arsenal did not sell any star players last season – and indeed went on to sign the Chile forward Alexis Sánchez after the World Cup as well as the France defender Mathieu Debuchy and the England forward Danny Welbeck from Manchester United on transfer deadline day.

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