Arsenal cuts overall debt by almost 40 percent

Arsenal has cut its debt by almost 40 percent to $311. 6 million, maintaining its reputation as one of the more stable clubs in the Premier League.

By (AP)

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Published: Fri 26 Feb 2010, 3:46 PM

Last updated: Mon 6 Apr 2015, 4:06 AM

Buoyed by the sale of another 261 apartments in the Highbury Square property development on the site of its former stadium, the north London club made a pretax profit of 35.2 million pounds ($53.8 million) for the six months ending Nov. 30.

It cut its debt from 332.8 million pounds ($537.5 million) the previous May.

The club has now sold 524 of the 655 Highbury Square apartments and non-executive chairman Peter Hill-Wood says “the next couple of years will see our property activities delivering surplus cash.”

He said Friday that could be invested in new players.

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