Arsenal are the FOURTH highest payers in the league AND have £123m in reserve

Arsenal boss Arsene Wenger has overseen a huge rise in wages to an estimated £155million per year. It means the Gunners are the fourth highest payers in the Premier League behind the two Manchester clubs and Chelsea but shell out around £60m more than Tottenham. The shock figures come in Arsenal’s latest financial results which – as revealed in Mirror Sport on Saturday – show pre-tax profits of £17.8m and shows they have cash reserves of £123m. They prove that Wenger has big money to spend - with the £150m Emirates sponsorship cash still to be added on - and shatters the myth that Arsenal do not pay big wages. However, it suggests they are not getting value for money on their wage bill which rose from £142m last year. Wenger has proudly boasted the club is run on a socialist structure and Tim Payton, of the Arsenal Supporters’ Trust, said: “These figures contain few surprises. “They show that Arsenal yet again made a profit from the sale of their best players and that the club has large cash reserves. “The results also show the club does spend considerable money on wages, but the football decisions made on player investment, player selection and player wage levels are not delivering a more competitive team” “The AST believes the Club are financially well set to improve on the decline of the last few seasons . The remaining question is whether it has the Boardroom leadership and football decision making expertise to make the money count.” Arsenal chairman Peter Hill-Wood added: “Our ability to compete at the top of the game here and in Europe is underpinned by our financial performance which gives the Club strength and independence. “Our desire is to make everyone connected with Arsenal proud of the Club. We know that comes through winning trophies but also through the way we do things and that will remain our constant guide.”

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