Arsenal's financial landscape suddenly looks a lot healthier despite the Gunners posting a loss - for the sixth year on the spin - on their latest balance sheet. The north London outfit released their accounts on Wednesday morning, showing a deficit of £17.7m for the 2023/24 financial year - a figure that is significantly down from their £52.1m loss in 2022/23.

In terms of spending money, Arsenal - like many of their top flight rivals - have felt the pinch of the Premier League Profit and Sustainability Rules [PSR]. As such, Mikel Arteta's did not strengthen his frontline with a new striker last summer and, despite actively pursuing a forward in January, could not get a deal done for any of their big-name targets.

Plenty has been made of Newcastle United's Alexander Isak being one of the forwards Arteta would like to sign with debates raging over whether Arsenal could afford the Swede or whether he will sign a new deal at Newcastle. The Magpies are confident of keeping their prized asset on Tyneside - but could Arsenal now be in a position to pounce?

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Well, despite the headline figure being that £17.7m yearly loss, the title-chasing side have boosted their revenue by an eye-watering amount - and that is the real takeaway from this week's announcement. The overall figure for football revenue was £613.5m – an increase of £148.9m from the £464.6m declared in 2022/23.

Arsenal hosted 25 home matches last season, meaning their matchday revenue increased to £131.7m, up from £102.6m the previous year. For context, Newcastle banked just shy of £38m for the 2022/23 accounting period - with that figure set to rise when the latest results are published.

The increased amount of matches and revenue for Arsenal is of course down to the return of Champions League football. The club's average attendance was 60,095 for men's home games across the season; a timely reminder of the importance of increasing the capacity on Tyneside.

As for broadcasting revenues, Arsenal brought in £262.3m. Again this was significantly up [from £191.2m] due to their European exploits. This is due to the vast difference in UEFA Champions League money on offer compared to the Europa League, with Arteta guiding his team to the last eight of the competition.

Interestingly, Arsenal's wage bill has also skyrocketed during this period, leaping from £234.8m to £327.8m in the space of one year. Big-name players such as Declan Rice and Kai Havertz did arrive during that time period but represents just how much the Premier League side are having to fork out - with absolutely no guarantee

What it all means for Arsenal is that they are in a much healthier position than this time last year. After two very quiet transfer windows and a gaping hole at the focal point of their attack, it may open once again the door for a potential tilt at a huge arrival in that position - something fans are crying out for.

Isak is one target but Arsenal have also cast their eye over his international team-mate and Sporting Lisbon star Viktor Gyokores and Wolves' Matheus Cunha. Newcastle feel confident they can keep their star man, with renewed contract talks scheduled in the near future.

A lot will, of course, rest on where Eddie Howe's side finish this term. Champions League qualification will strengthen Newcastle's hand greatly given Arsenal too look likely to finish in the top four once more.

Speaking recently, Isak moved to shut down talk of an imminent exit, insisting he was happy at St James' Park. Long may that continue.