Arsenal chief executive Ivan Gazidis urges fans to back Arsene Wenger after reporting £49.5m profits

Arsenal chief executive Ivan Gazidis has told fans to back Arsene Wenger and cheer the team on to Champions League qualification after reporting £49.5 million profits for the last six months of 2011.

The club released strong financial results the day after a thrilling comeback against north London rivals Tottenham, which saw them register £41.6m in player profits following the sale of captain Cesc Fabregas and Samir Nasri.

Gazidis has now urged supporters to continue following the team and helping them to seal a top four finish in the Premier League.

“We hear the noise, we understand the concern of the fans, we know there are issuses, we know we’re not where we want to be,” Gazidis told Arsenal Player.

“But I can tell you that this team, our manager, the players, are absolutely united in what we have to do for the rest of the season, which is to finish in the top four. It’s very much in our hands.

“We have had absolutely unbelievable support from our travelling fans. Away to Sunderland, away to Milan, our supporters have put aside the questions, put aside the doubts, put aside the differences of opinion and got behind the team.

“If that can happen from now until the end of the season, I know that we can achieve Champions League qualification again for next year, that we can rebuild and regroup in the summer and come back strong next year.

“That will come through ‘victory through harmony’. The strength of this club has always been its unity and our fans and the palyers need to come together in this fight for the rest of the season.”

Despite now boasting a cash balance of £115m, Gazidis stated that it was important that supporters do not expect their team to outspend the like of rivals Manchester City, with not all of the money earmarked for transfers.

“We are healthy from a financial standpoint. That is why these financial figures are important, but I would never want to say they are the most important thing. They are not; they are the platform for what we want to do on the field.

“But it is important to understand that not all of [the £115m] is available to spend on transfers. The reason for that is that we have running costs during the year.

“We get a lot of money up front from season ticket renewals. We have running costs at the club; the players’ salaries and so on. So that amount goes down during the year.

“But having said that, there is money available. We do not talk about an exact figure because it would impact our negotiating position with other clubs. But we do have money available. We have to invest efficiently, we have to do it sensible. But we have enough, I believe, to be able to compete at the very highest levels of the game.”

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