Article published 1 Oct 2011
Arsenal are viewed by UEFA as a role model - they play nice football, are not owned by a 'Sugar Daddy', they have built a lovely new stadium and operate on financial model that will seemingly ensure FFP compliance. UEFA will therefore have been pleased to read Arsenal's recent financial results (their last ones to be produced before the first Monitoring Period).  Although Arsenal announced a profit of £15m before tax, they recorded a profit of just £2.2m once transfers are factored in.   In many ways these results indicate how difficult several English clubs will find complying with the FFP rules - if Arsenal, with the benefits of their world-beating corporate facilities, few expensive player purchases and a reasonably rigid salary structure, can only break even, it will be extremely difficult for some of the other Premiership teams to comply.

http://www.independent.co.uk/sport/football/premier-league/arsenal-feel-squeeze-as-wages-rise-to-163125m-while-profits-stagnate-2363835.html