Arsenal's debt has increased by more than £100m following their move from Highbury to the Emirates Stadium.
Arsenal moved into the Emirates Stadium at the start of the season
Gunners chairman Peter Hill-Wood has announced that their overall debt has risen from £153.3m in 2005 to £262.1m.
"As well as completing the new stadium we have also refinanced the related debt," said Hill-Wood.
"The refinancing is beneficial as it secures a financing arrangement for the long term and also frees up more cash-flow for investment in the team."
The figures also showed that Arsenal's operating profits before player trading and exceptional items was £11.3m, which was down from £32.6m the previous year.
The level of pre-tax profits from the sale of players was up to £19.2m, while Arsenal's run to the Champions League final meant their football business increased turnover to £132.1m.