Source: PA
Gazidis vows to keep moving forwards
Chief executive Ivan Gazidis maintains Arsenal's self-sustaining business model is on track - but vowed the Barclays Premier League club would not be standing still.
Last month, the Gunners' parent holding company announced record pre-tax profits of £56million and increased group turnover of £379.9million, while also seeing all the debt on their Highbury Square development paid off.
Addressing Thursday morning's annual general meeting of shareholders at the Emirates Stadium, Gazidis pledged any profit from further property sales would be ploughed back into the squad - with the only outstanding debt now tied into the long-term mortgage on their 60,000-seater ground, which opened in July 2006.
"This is a challenging path to tread, but we have earned our independence," he told the AGM.
"We do not have to rely on anybody but ourselves for future success. However, we have to keep moving forwards - standing still is never an option."
