Arsenal have announced an operating loss of £45.5million for the year ending May 2022. Despite incurring such a blow, it actually proves to be a step in the right direction for the club after the previous year saw losses of more than £107million.
The campaign saw Kroenke Sports Entertainment (KSE) invest heavily into Mikel Arteta's project, spending over £100million after the club missed out on European competition for the first time in 23 years.
It was required to make sure they would return to UEFA competitions - the tournaments that bring in the most money. The club have since summed up just how important the investment has been in a statement on arsenal.com.
READ MORE: Ben White leaves England World Cup squad due to 'personal reasons'
The statement read: "During 2021/22, and subsequently, during the 2022 summer transfer window, the club has invested strongly in the development of its men's first-team playing resources.
"This investment recognises that the club has not been where it wanted to be in terms of on-field competitiveness and that, as a minimum, qualification for UEFA competition needed to be regained, as a pre-requisite to re-establishing a self-sufficient financial base.
"This investment would not have been possible without the support and commitment of the Club's ownership, Kroenke Sports & Entertainment. Qualification for the UEFA Europa League for 2022/23 represents a positive first step and can be viewed alongside the start to the 2022/23 season which has so far been encouraging."
'Kroenke Out', which was primarily aimed at majority shareholder Stan Kroenke, echoed around the Emirates Stadium for several years before the ownership started to listen and act on their fans' frustrations.
Protests peaked when the Gunners became one of the founding members of the European Super League, which would have effectively ended the pyramid system of European football and placed Arsenal in a closed league without prospects for meritocratic relegation and promotion.
The family were pushed to sell the club but later released a statement saying they wouldn't. Since then, though, they've invested far more money and time. Josh Kroenke (Stan's son and heir to Kroenke Sports & Entertainment) in particular has restored much of the supporters' faith that the family do in fact care about the club and the project is not just a business to them.
In addition to attending regular fan forums, Kroenke is often present at the training ground and on matchdays at the Emirates Stadium. Josh has also shown tremendous faith in Arteta, who is now gradually becoming one of the top coaches in English football.
Arsenal are top of the Premier League at Christmas for the first-time in more than 15 years. The club are ultimately benefitting from KSE's investment but supporters will just be hoping that it continues for the foreseeable future.
READ NEXT:
Gabriel Jesus snubs Arsenal teammates in major midfield verdict amid Man Utd star praise
Arsenal told to complete £80m Mykhaylo Mudryk transfer over 'difficult' Christian Pulisic deal
5 Arsenal youngsters who could be part of Mikel Arteta's Dubai preseason squad
'Faultless' - William Saliba World Cup decision questioned after France prove Mikel Arteta right
Arsenal news and transfers LIVE: Latest news, rumours and gossip from the Emirates Stadium
