Arsenal has announced a post-tax loss of £47.8 million ($65 million) for the year ending May 31, 2020. The club cited the \"material impact\" of COVID-19.
The club claim the pandemic cost them £35m during this period as a result of lost matchday revenue, the deferral of broadcasting revenues into the next financial year following the three-month hiatus in games and a shortfall in commercial income.
The accounts also show exceptional costs totalling £10.4m, essentially the cost of sacking Unai Emery in November 2019 and replacing him with Mikel Arteta.
Via James Olley/ESPN