MX23RW : Monday, December 23 10:07:04| >> :120:36540:36540:

Arsenal accounts reveal £200m reserves

Arsenal reveal that they have nearly £200m of cash reserves after their accounts were released.

Arsenal have revealed that they have almost £200m in the bank.

The club's accounts were released on Friday, showing a £25m profit in the year ending May 31, 2015.

£114m was spent on new players, but Arsenal have since been criticised by fans after Petr Cech was their only signing this summer.

"We're focused on delivering more success," Arsenal chief executive Ivan Gazidis told BBC Sport.

"We continue to look to develop every aspect of our operations while remaining true to our principles around being self-funding, investing in youth, our style of play and our commitment to our fans and to our place in the community."

The financial reserves, which total £193m, are intended to cover costs and are not earmarked for future transfer deals.

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South African Chief Executive Ivan Gazidis looks on before the English Premier League football match between Queens Park Rangers and Arsenal at Loftus Road in London on May 4, 2013
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