Arsenal have announced they have made a pre-tax profit of £422.8m, the first time they have exceeded £400m in their history, reports the Evening Standard.
The Gunners were helped by £58m in additional broadcast revenue from the Premier League in the first year of a three season broadcasting deal. There was also further contributions from the clubs Champions League earnings, which helped spur the noticeable rise in profits.
The North London club maintain their status in having significant cash reserves, however in a years time, revenue may drop, as the club will pay the price for dropping out of the Champions League for the first time in two decades.
Last season, Arsenal finished fifth in the Premier League, meaning they will compete in this years Europa League, however they also won the FA Cup against Chelsea at Wembley, ending the season on a high.
Manager Arsene Wenger was then rewarded with a new two-year deal.
