Arsenal have revealed that the club made a pre-tax profit of £36.6 million for the financial year.
The results, which span from June 2011 to May 2012, show that the north London club are operating without huge debts, which comes as a source of pleasure for chief executive Ivan Gazidis.
“Clubs, fans and other stakeholders in the game are demanding a more rational financial approach and this reinforces our conviction that our club is strongly placed to succeed over the long term,” a statement, published in The Guardian, reads.
“We have qualified for the Champions League for the 15th season in a row whilst off the pitch we have a business strategy and infrastructure that is helping us to grow our revenues.
“This revenue growth will provide sustainable funds for future investment in the team whilst keeping within the Uefa Financial Fair Play requirements. We can and will forge our own path to success.”
The sale of both Samir Nasri and Cesc Fabregas last summer did much to balance the books.
By Gareth McKnight