LONDON, England — Arsenal’s move from Highbury to the Emirates Stadium has led to an increase of more than 100 million pounds ($188m) in their overall net debt, according to figures released on Wednesday.
“The refinancing is strongly beneficial as it secures the group’s financing arrangement for the long term and, by extending the repayment term and reducing the annual debt service costs, frees up significantly more of the group’s future cash-flow for investment in the development of the team.”
Chairman Peter Hill-Wood said the debt relating to the change of stadium in north London has been restructured and would allow investment in the team.
“As well as completing the new stadium we have also refinanced the related debt,” he said in a statement to the club’s official Web site.
Premier League Gunners’ overall net debt has increased to 262.1 million pounds ($493m) from 153.3 million pounds($289m).