Arsenal have confirmed owner Stan Kroenke provided funds for transfers last season.

The strategic report in their financial results for 2023/24 includes an update on funding and acknowledges Kroenke Sports & Entertainment (KSE UK Inc.) mainly provides funds. It explains that they did so during the year in question to "underpin the club's transfer activities and for working capital purposes as required".

"The group reviews and updates its forecasts on a regular basis and keeps its parent company and ultimate controlling party fully aware of its financial commitments going forward." It adds that Arsenal "has a £100 million working capital facility with Barclays Bank".

READ MORE: Who Arsenal will face in the Champions League round of 16 knockout stage

READ MORE: The Arsenal injury costing Mikel Arteta three Premier League titles and it is not Bukayo Saka

They also acknowledge that "loans have been used from both Barclays and KSE UK Inc. to manage the overall position throughout the year." Another section of the strategic report regarding their results for the year states: "During 2023/24 and subsequently during the summer 2024 transfer window, the club has again invested strongly in the development of its men's first team playing resources."

Arsenal signed Declan Rice, Jurrien Timber and Kai Havertz for around a reported £200million in the 2023 summer transfer window. They then recruited David Raya, Mikel Merino and Riccardo Calafiori for approaching £100million before the start of this season.

The report continues: "This investment recognises that qualification for UEFA competition represents a pre-requisite to re-establishing a self-sufficient financial base. This investment would not have been possible without the support and commitment of the club's ownership, Kroenke Sports & Entertainment."

After highlighting their risks and uncertainties, the report states: "The group seeks to maintain playing success by continually investing in the development of its playing squad, and it enters into employment contracts with each of its key personnel with a view to securing their services for the term of the contract. However, the group operates in a highly competitive market in both domestic and European competition and retention of personnel cannot be guaranteed.

"In addition, the activities of the group's main competitors can determine trends in the market rates for transfers and wages that the group may be required to follow in order to maintain the strength of its first team squad."