Connect with us

Hi, what are you looking for?

Sporting ExcitementSporting Excitement

Premier League

Chelsea announce £32.5m profit for 2019-20 despite coronavirus crisis but figures don’t include £253m transfer splurge

, Chelsea announce £32.5m profit for 2019-20 despite coronavirus crisis but figures don’t include £253m transfer splurge

CHELSEA have revealed a £32.5million profit in their latest financial results for the 2019-20 campaign.

However, the impact of the coronavirus pandemic meant their overall turnover fell from £446.7m to £407.4m for the year ended June 30, 2020.

Roman Abramovich’s Chelsea has recorded a £32.5m profit for 2019-20

Read our Chelsea live blog for the very latest news from the Bridge

But that was offset by qualification for the Champions League, as well as player sales that helped the club record a profit, including the sale of Eden Hazard to Real Madrid, which could eventually reach close to £150million.

According to the figures, broadcast and match day revenues dropped to £17.6million and £12.2million respectively, due to the season being suspended in March.

Although, that meant a reduction in match day costs with games being postponed.

Advertisement. Scroll to continue reading.

Commercial revenue was also down by £9.5million, with non-match day activities around Stamford Bridge closed because of the pandemic.

The report also reveals that Chelsea are continuing to ‘comply with UEFA’s break-even criteria under the Financial Fair Play (FFP) regulations’.

And the Blues did invest £93.7million in the squad, including on existing player contract negotiations.

However, Chelsea’s summer transfer splurge has NOT been included in the new figures.

Roman Abramovich signed off on £253million worth of deals, for the likes of Kai Havertz, Timo Werner, Ben Chilwell, Hakim Ziyech and Edouard Mendy.

Chairman Bruce Buck revealed on the club’s website: “In common with many, many businesses across the globe, the pandemic has had a significant impact on Chelsea’s income.

“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.

, Chelsea announce £32.5m profit for 2019-20 despite coronavirus crisis but figures don’t include £253m transfer splurge

, Chelsea announce £32.5m profit for 2019-20 despite coronavirus crisis but figures don’t include £253m transfer splurge

The figures don’t include Chelsea’s £253m summer transfer splurge, which included the £70m spent on Kai Havertz

“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.

Advertisement. Scroll to continue reading.

“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.”

Advertisement. Scroll to continue reading.
Advertisement
Advertisement

Latest

Boxing

TYSON FURY has been enjoying some well-earned family time after his recent win over Derek Chisora. The Gypsy King, 34, was snapped by his...

Boxing

BRITISH boxing great Tyson fury joked that a fight against Anthony Joshua may not happen until they are in their mid-fifties. The Gypsy King...

Premier League

MIKEL ARTETA produced a blast from the past as he tested out Arsenal’s flair for the future. The Gunners boss wowed fans with a...

Boxing

BOXING star Ebanie Bridges has jokingly admitted that she is excited to get “fat again” after her fight against Shannon O’Connell. The 36-year-old boxer...

World Cup 2022

YOUSSOUF FOFANA has “full confidence” Kylian Mbappe can destroy Kyle Walker and England – because no one else has found an answer. Walker has...

World Cup 2022

LIVERPOOL are set for a boost as Jude Bellingham is reportedly set to tell Borussia Dortmund he wants to quit the club and switch...

Advertisement
Advertisement

Facebook

Advertisement
Advertisement
Advertisement
Advertisement