Arsenal Losing Money On This Day, 22nd September 1964

The financial statements for the last financial year are due soon and from the City perspective, they will probably be more warmly greeted than their 1963-64 counterparts. That said, the paucity of dividend payments remain.

FA rules used to be considerably tighter than they were now with directors unable to draw salaries for the best part of a century. That was to prevent the clubs being bled dry but also a recognition of the central role that they played in the community. Were such rules to be in place now – along with the maximum 5% dividend payout – would clubs be such an attractive investment opportunity? Certainly they would make supporter ownership a more feasible option in the game’s upper echelons.

Overall losses of £77k (£2.6m in 2012) include £45k (£1.5m) net loss on transfer activity or as this report puts it more eloquently, “the market for human flesh”.

 

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3 thoughts on “Arsenal Losing Money On This Day, 22nd September 1964

  1. The finance thing is way above my head, I’m afraid… but I like the pic.
    Tell me if I’m wrong regarding the names.

    Back row left to right: Groves, Skirton, McCullough, Brown,McKechnie, Wilson, Strong, Snedden, Bacuzzi.
    Front row left to right: Court, Neill, Baker, Anderson (I think), Barnwell, MacLeod, Eastham, Magill, Armstrong.

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