SPORTS: Arsenal Reveals 30m Drop In Profits

Arsenal have announced their 2012-13 financial results, revealing a £30 million drop in pre-tax profits from their 2011-12 figures. The Gunners' group profit amounted to £6.7m for year-ending May 31, 2013 - while their pre-tax profit for the previous year totalled £36.6m. Robin van Persie's £24m move to Manchester United helped account for a total of £47m in player sales although that figure fell short of the £65.5m recuperated the year before, with the likes of Cesc Fabregas, Gael Clichy and Samir Nasri leaving the club. Arsene Wenger invested £58.7m in the purchase of new players, while contract extensions, including a four-and-a-half-year deal in the region of £90,000 a week for Theo Walcott, pushed amortisation charges up to £41.3m - a £4.5m rise from 2012. Meanwhile, turnover from football increased to £242.8m from the 2012 figure of £235.3m, with the Gunners reaping the financial benefits of their various commercial tie-ins, including the extended partnership with Emirates