Arsenal report half-year profits of 27 million dollars

London: Arsenal has reported half-year pre-tax profits of 17.8 million pounds ($27 million) thanks to the sale of leading players.

The sale of Robin van Persie to Manchester United contributed to a profit of 23.2 million pounds ($35 million) on player trading in the six months to Nov. 30 2012.

Cash reserves rose to 123.3 million pounds ($187 million), but many fans are unhappy at the lack of spending on strengthening the squad.

Arsenal is facing an eighth season without a trophy unless it can overturn a 3-1 deficit against Bayern Munich to reach the Champions League quarter-finals.

Arsenal is also in danger of missing out on the Champions League next season as it currently fifth in the Premier League and only the top four qualify to join Europe's elite.