Chelsea announce £32.5m profit for 2019-20 financial year

Chelsea football club of England have posted a profit of £32.5 million ($44.4m) in their latest financial results.


 Due to the Covid-19 pandemic, the Blues saw their total turnover go down from the previous number of £446.7m ($610.6m) last year to £407.4m ($556.8m) this fiscal year ending June 30 2020.


Most of the profit was made from player sales and Champions League qualification.


Chelsea also remain compliant “with UEFA’s break-even criteria under the Financial Fair Play (FFP) regulations,”  according to a club statement .


Chelsea also saw a significant fall in both broadcasting and matchday revenues, as a result of the suspension of the season from March 2020 at the height of the covid-19 pandemic.


Commercial revenue also fell as non-matchday activities effectively suspended or closed, while the club further invested close to £100m ($136.7m) in their squad.


That figure does not include the club’s big-money summer signings however, with Kai Havertz, Timo Werner, Ben Chilwell and Edouard Mendy all arriving after the 2020 fiscal year.


“In common with many, many businesses across the globe, the pandemic has had a significant impact on Chelsea’s income,” chairman Bruce Buck noted in a club statement .


“But it is a sign of the strength and stability of our financial operation that the company was still able to post a profit in the past financial year.


“This was done while continuing to invest in our playing staff and indeed had normal football not halted in March, projections show a record profit and record turnover would have been achieved.


“That would have represented an increase in revenue for a fifth year in succession.


“Despite the impact of Covid, the revenue streams remained strong, our team is developing on the pitch and the Club is in a good position to continue to grow when football is able to operate as it did previously, a time we are all looking forward to.”

3,369 total views, 2 views today

Facebook Comments

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

As you found this post useful...

Follow us on social media!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

NBA star,  LaMarcus Aldridge abruptly announced his retirement from basketball over concerns about an irregular
The Local Organising Committee has threatened to shut down the National Sports Festival over the
The Super Eagles of Nigeria squad to face Lesotho in their last game of the
Manchester City star legend, Sergio Aguero has announced he will leave the club at the
Belgium league goal scoring machine, Paul Onuachu scored a late winner as the Super Eagles

Author: Daniel Said✩✷