Arsenal post healthy profit in revenues for the 2014-15 season

Despite posting healthy profits last season the Gunners are still £50 million shy of United’s turnover

Arsenal have announced their revenue for the 2014-15 season which sees them post a healthy profit of £24.7 million in the last 12 months but turnover came in at £50 million less than Manchester United as per the Daily Mail.

Figures announced today by the Arsenal's board saw revenue reach £344.5 million, up from £301.9 million last year, as the new kit deal with sports giant Puma was signed by the North London club. The turnover was still £50.7 million behind Manchester United, who brought in much more than the Gunners despite being away from the Champions League last season when they finished seventh in the Premier League under David Moyes because of their own kit deal with another sporting giant Adidas.

The Red Devils' own new kit deal with Adidas has seen the club buy a number of players with Ed Woodward ready to pay huge sums to land their transfer targets in the summer transfer window. The Red Devils with the new Adidas deal hope to become the first English club to surpass the £500 million mark over the next 12 months.

Arsenal's results did show, however, that Arsene Wenger has money to spend over the summer with cash reserves growing considerably. Reserves of £193.1 million were revealed - despite a record level of spending on signings in the summer of 2014.

Reluctance to sign players despite record revenues frustrates fans

Arsene Wenger only signed Petr Cech in the summer transfer window

Despite generating a healthy amount of money in the 2014-15 season, Arsenal was the only club in Europe’s top five leagues that did not sign an outfield player in the summer transfer window. With Wenger repeatedly saying that money was available for him this summer, had he been able to identify the right players. But the clubs inactivity at the end, means that the frustration among the fans is now growing.

Only Petr Cech arrived at the Emirates, for £10.7 million, with the latest figures likely to lead to even more question marks among the gooners about Wenger's reluctance to spend in the transfer market.

Arsenal's commercial revenue has been significantly boosted by the club's new kit partnership deal with PUMA, which came into effect at the start of last term. The deal, believed to be worth 30 million pounds-a-year to the north Londoners, saw commercial revenue exceed 100 million pounds for the first time. Elsewhere, the club announced a pre-tax profit of 24.7 million pounds - rising by 20 million pounds from the previous year.

Chief executive of Arsenal football club, Ivan Gazidis said: "Everyone at the club is determined to build on the FA Cup successes of the past two seasons. "We continue to look to develop every aspect of out operations while remaining true to our principles around being self-funding, investing in youth, our style of play and our commitment to our fans and to our place in the community. We are focused on delivering more success.”