Arsenal, whose major shareholders include American Stan Kroenke, has laid claim to being England's richest club after reporting an income of $400 million for the year ending May 31, 2007. Operating profits increased 274 percent, to $103.7 million, from the previous year.

Arsenal's turnover exceeds that of Manchester United ($339.8 million) and Chelsea ($309.4 million), and puts it on par with Real Madrid, whose turnover was $409 million for the 2005-06 season.

Arsenal's move to its new 60,000-seat home played a major role in the increased revenue. It averaged $6.3 million in game day revenues.