Things have gotten worse for Arsenal this week after being knocked out of the UEFA Europa League. With their first financial loss of £27.1million since 2002, Mikel Arteta is feeling the pressure to secure a Champions League spot.
Arsene Wenger may have had his issues with Arsenal fans when it came to issues on silverware but the board always supported him because he always kept the club out of the red financially.
Arsenal have qualified for Champions League 19 consecutive times between 1998/99 – 2016/17.
With elimination from the UEFA Europa League, Mikel Arteta’s only hope to see the club into the Champions League will be to battle it out in the English Premier League.
The effects of not qualifying for Champions League has finally his Arsenal hard as they recorded their first-ever financial loss since 2002 of £27.1million.
The club will try to cushion the blow of thes £27.1million losses through increased advertising and sponsorship as explained by club Chairman Sir Chips Keswick, who went on to say the following:
“Our player trading profit for this financial year was limited and this combined with a second consecutive season of Europa League football has meant the club recorded its first overall loss since 2002.”
“For 2019/20 we will see increased commercial revenues from Adidas and our renewed deal with Emirates but another season outside the Champions League will continue to apply pressure to our financial results.”
Arsenal are still int he running for silverware as they take on Portsmouth in the 5th round of the FA Cup on Monday but as explained by former Manager Arsene Wenger, there will be little room for error should Arsenal have any hope of attaining a Champions League spot in the Premier League as he went on to say:
“They’ve all got a chance because it looks like the top three are away from the rest of the league and the rest of the league, teams have moved up and some of the teams in the top six have dropped their level,”
“We have 26 games, after tomorrow’s game we have 33 points to go for, if you make 22-25 points, you have a chance.”
The Gunner will need to win at least 8 of their remaining 11 Premier League games should they wish to achieve this goal.