Wednesday, January 17, 2018

Chelsea announce record turnover and £15.3m profit

SoccerNews in English Premier League 29 Dec 2017

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Chelsea have announced the club made a record turnover for the year ending in June 2017, as well as a profit of £15.3million.

The Premier League champions recorded turnover of £361.3m – up 9.8 per cent from £329.1m in the previous year – despite not taking part in the Champions League last season.

The club said the Premier League’s latest contracts with TV broadcasters, as well as revenues rising thanks to Chelsea claiming the title, explained the record turnover.

“It is very pleasing we matched significant achievement on the pitch in 2016-17 with a successful year commercially,” chairman Bruce Buck said.

“Our business has continued to grow long-term and to be able to post record turnover figures despite not playing Champions League football during that period highlights this strength.

“Our fans played a major part, by supporting the team towards lifting the Premier League trophy, coming to our matches in large numbers, and our ever-increasing global fanbase has helped important commercial partnerships to be formed. We thank our supporters, partners and staff for a successful 2016-17.”

Chelsea’s revenues are expected to rise again for the 2017-18 financial year due to the club’s return to the Champions League, plus a major new commercial partnership with Nike.

However, Chelsea’s ultimate parent company, Fordstam Limited, reported a consolidated loss of £14.2m for the 2016-17 year.

A club statement said this was “largely due to new stadium planning costs and losses at non-football ancillary businesses”.

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