Arsenal chief executive Ivan Gazidis enjoyed a £440,000 increase in his salary last season, despite a trophy-less season for the Gunners.
Gazidis' salary increased by 20 per cent to £2.64m, a sum that could make the American the highest paid director in the Premier League.
Daniel Levy, chairman of North London rivals Tottenham Hotspur, was the Premier League's highest-paid director in the 2014/15 season with a salary of £2.61m.
Manchester United chief executive Ed Woodward earned £2.5m in 2014/15, but details were not revealed in the club's accounts for last season.
Gazidis' bumper salary was revealed in copies of Arsenal's full financial accounts, sent to shareholders in the club last week.
At £2.9m, Arsenal recorded their lowest profit-before-tax figures of the Emirates era. The club's wage bill rose by just over £3m to £195.4m, representing 55.3 per cent of the club's £353.5m turnover.