Arsenal financial results a boost to summer transfer hope as Mikel Arteta needs five new players

The phrase ‘no excuses’ is something uttered quite often around the Arsenal fan sphere. You hear it regarding injuries, refereeing decisions and of course the work done, or in the case of January not done, in the transfer windows.

With the publication of Arsenal’s latest financial results, the club have showcased yet another step in the right direction, with the overall loss dropping from £52.1million to £17.7million from 2023 to 2024. Naturally, this leads to a rise in expectations when it comes to spending for the future and where the tagline of ‘no excuses’ is sure to run rampant again.

Frankly, I do tend to agree to an extent. While I have looked back at the last two windows, both the winter and summer, and the business that was or was not done, I could make sense of it, to a degree, due to the financial regulatory pressure existing.

However, it was a failure not to bring in any players this winter, particularly a short-term loan option when players like Randal Kolo Muani, Alvaro Morata and Andre Silva all left to join other European clubs on loan. Expectations from some for major spending were never realistic.

The increased revenue from commercial, broadcast and player trading looks set only to move in one direction. Profit on player registrations/loans of players went up to £52.4million from £12.2million.

This accounts for the business done in the summer of 2023 when Granit Xhaka and Folarin Balogun were sold. With 2024’s window seeing Emile Smith Rowe, Eddie Nketiah and Aaron Ramsdale bring in a significant amount of funds, in a window which saw an investment on players less than half that of the year before, naturally, this has freed up room for 2025.

And this is where we land. A summer where the club will be expected to spend and significantly.

There does remain some pressure, particularly regarding the wage structure of the team. Wage costs increased dramatically from £234.8million in 2023 to £327.8million in 2024.

The Gunners will benefit from some high earners leaving in the summer, such as Thomas Partey, Jorginho and Kieran Tierney. Oleksandr Zinchenko, Fabio Vieira, Albert Sambi Lokonga, Nuno Tavares and Jakub Kiwior could all also leave, freeing up more space on the books.

Players like Ethan Nwaneri and Myles Lewis-Skelly have stepped up and, as youth players, are representing major footballing value on respectively lower wage packets for the level they are producing. There are further exciting talents coming through the club will want to provide pathways for, such as Max Dowman.

Yet overall, the club will have room to look at a brand new centre-forward, a defensive midfielder who football.londonunderstands to be Martin Zubimendi, a backup goalkeeper, and potentially another attacking player and another defender – especially if the likes of Kiwior and Zinchenko leave.

They will, however, continue to be mindful of their valuations for players and not go well over the odds, as shown by the discussions over Ollie Watkins in January. Furthermore, player wage demands will need to fall in line with the club’s model, which could rule out moves for the likes of Victor Osimhen.

The club still want to renew existing players' deals such as Gabriel Magalhaes, Bukayo Saka, William Saliba and Gabriel Martinelli. Leandro Trossard will have one year left in the summer, too, and a decision will need to be taken on the Belgian sooner rather than later.

Renewals of any kind are expected to incur an increase in wage and this could factor into the club’s capacity to commit financially to some summer transfer targets.

The injuries suffered by Reiss Nelson, Gabriel Jesus and Takehiro Tomiyasu which have required surgery, will likely rule out summer exits that perhaps were on the cards. This is a significant blow as this may have helped to broaden the potential options the club will look to acquire.

The club remains vigilant for top young talent and Sverre Nypan, the Norwegian midfielder, remains a top candidate for the summer window, having held discussions with the club this winter before deciding to delay a decision on his future until the summer. There are other targets also on the club’s radar.

There is also the matter of the sporting director, which is expected to be concluded in the near future after Mikel Arteta admitted as much. Jason Ayto has taken on the role in the interim and has reportedly impressed the hierarchy, but there are candidates being considered externally ahead of an appointment that would see the important summer 2025 window become a priority first task for whoever gets the position.

In the end, while there is confidence the squad will indeed be in a stronger position come the summer because of investment, those hoping for Arsenal to suddenly drop £300million in a single summer are likely to be disappointed. Just because you could theoretically spend a massive sum of money and remain within the confines of financial regulation doesn't mean the club will.

football.london understands that the ownership want to run the club in a self-sustaining fashion and win the biggest honours while doing so. It is a challenge, but the team Arsenal are chasing are where they are with the exact same intention.

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