Chelsea reports annual financial results, confirms £ 32.5million profit
As the saying goes, “if you’re going to be spending £ 222million in the summer, it’s probably best to calculate your football club’s annual financial figures right before you open your wallet.”
It is not a saying. It never will be. But that’s pretty savvy business work – until you get to next year and realize Roman Abramovich has to sell one of his 30 homes to comply with Financial Fair Play.
Chelsea have announced profits of £ 32.5million for the year ending June 2020 – but of course that’s only such a small amount as the coronavirus has impacted their earnings, the figure business increased from £ 446.7 million to £ 407.4 million.
The club added that their loss of day and broadcast income had an impact on the numbers, dropping from £ 16.6million to £ 12.2million.
In a statement posted on the club’s official website, President Bruce Buck said the pandemic has had an impact on Chelsea’s financial figures, although he insisted they were well positioned for it. ‘to come up.
“Like many businesses around the world, the pandemic has had a significant impact on Chelsea’s earnings, but it is a sign of the strength and stability of our financial operations that the company was still able to make a profit in the financial past. year, ”the statement read.
“This was done while continuing to invest in our playing team and indeed, had normal football not been interrupted in March projections show record profit and record turnover would have been achieved. This would have represented an increase in income for a fifth consecutive year.
“Despite the impact of COVID, revenue streams have remained strong, our team is growing on the pitch and the club is well positioned to continue to grow when football can function as it did before, a time when we all are. impatient. at.”
Looking forward to next year’s figures.