Arsene Wenger will continue to enjoy a sufficient transfer kitty to take into the January sales as Arsenal reported an increase of almost £9million in pre-tax profit - but also saw overall debt climb to 153.3million.
The Gunners have invested heavily in their new Emirates Stadium, set to open for the start of next season and the financial results of the club's parent company, which were released this morning, showed an expenditure in excess of £94million on the project during the year ending May 31, 2005.
Over the same period, the group's overall net debt increased to £153.3million, from £141.3million in 2004.
Despite the scale of the north London club's long-term financial commitments their cash reserves remain healthy and are reported at £63.1million, up from £17.6million last year, while the figures also revealed pre-tax profit had risen from £10.6million to £19.3million.
Arsenal's managing director Keith Edelman believes the latest report shows a successful finance strategy and maintained funds continue to be available to Wenger, should he choose to spend them.
"They are a very solid set of results," according to Edelman.
"Some of the money in our reserves relates to future financial years, where we keep some cash to pay all of our costs in those years - but there are sufficient funds available to the manager for transfers.
"Arsene knows what his budgets are. He has always been a cautious buyer of players, a very astute buyer, and a very successful manager.
"He is not a frivolous manager, who if he has got £10m or £15million will just say 'I have got to buy a player'.
"Just because he has got a budget does not mean he will spend it if he does not believe it will strengthen the squad.
"Arsene always buys the right type of player at the right time, and we leave those judgements to him, because he is very good at it."
