Chelsea record a £23.1m loss for the financial year - No problem!!
Chelsea have revealed a financial loss of £23.1m for the year despite posting their second highes...
Chelsea have revealed a financial loss of £23.1m for the year despite posting their second highest recorded turnover the year of £314.3m. The club insist their is no problem with FFP.
It's a massive amount of money bearing in mind we are limited to the current capacity at Stamford Bridge. To put it in perspective, we are just a Juan Cuadrado permanent transfer away from breaking even and expect the club to be posting major profits this time next year.
Chelsea Chairman Bruce Buck released a statement saying:
“Chelsea Football Club has been consistent in our intention to comply with FFP and it was a primary aim in the past financial year to be one of the clubs with a continuous record of meeting the regulations, which we have achieved. To record the second-highest turnover figure in the club’s history, despite the Champions League campaign ending at the earliest knockout round, demonstrates our business is robust and is testament to good work regarding our commercial activities, our growing fan base around the world and the tremendous support the team received at home and away matches in 2014-15.
Our programme of partnering with world-renowned and innovative market-leaders is accelerating and the beneficial impact made by the Chelsea Foundation in more than 30 countries continues to set the top standard. We thank our fans for another season of sell-out attendances at Stamford Bridge in 2014-15 and for our support everywhere. We hope they enjoyed what was a very successful year.”
So why is this year different to last and why are we so confident of posting a profit in twelve months time?
Things we MUST consider:
- We entered the Champions League as Premier League Champions and will receive an increase in TV revenue.
- As expected, further progress in this seasons competition equalling more TV and prize money
- The new Yokohama deal worth £40m per season.
It really makes you wonder just how our finances would be if we already had the new 60,000 capacity, developed Stamford Bridge and reaped the benefits of increased sales of season and match day tickets.
That's the plan for the future. For now, the club remains confident they will comply with FFP.