Chelsea report £ 32.5million profit for fiscal year 2019-2020

The Blues saw their total slide from the previous number of £ 446.7million ($ 610.6million) to £ 407.4million ($ 556.8million) after a season marked by off-season problems. ground.

Chelsea made a profit of £ 32.5million ($ 44.4million) in their latest set of financials – but the club have still seen a year-over-year decline in overall revenue in part thanks to the Covid-19 pandemic.

The Blues saw their total slide from the previous number of £ 446.7million ($ 610.6million) to £ 407.4million ($ 556.8million) for the year ending June 30 2020, but still made a good margin thanks to player sales and Champions League qualification. .

Frank Lampard’s team also remains in compliance with “UEFA’s balance criteria under the Financial Fair Play (FFP) regulations”, according to a club statement.

Like most other clubs, Chelsea have seen a significant drop in broadcast revenue and match days, due to the season suspension from March 2020 as the pandemic rocked Europe.

Trading income has also been hit hard by the suspension or closure of non-match activities, while the club have additionally invested nearly £ 100million ($ 136.7million) in their squad.

However, that figure does not include the big summer signings of Lampard, Kai Havertz, Timo Werner, Ben Chilwell and Edouard Mendy all arriving after the close of fiscal 2020.

“Like many companies around the world, the pandemic has had a significant impact on Chelsea’s revenues,” President 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 able to still make a profit during the past financial year.

“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.

“It 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. looking forward to. “

Chelsea are next back in action when they face Manchester City on January 3, having taken a point from their last two games since Christmas.

Source