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Chelsea upbeat despite loss

Chelsea remain confident that they will meet UEFA's Financial Fair Play regulations despite a near £50million loss for the last financial year.

Last Updated: 01/01/14 at 09:15 Post Comment

Bruce Buck: Chairman adamant that trophies remain the priority for Chelsea

Bruce Buck: Chairman adamant that trophies remain the priority for Chelsea

The results for the year ending June 30, 2013, show a record £255.8m turnover - the fourth successive year it has increased - despite the club's elimination from the Champions League at the group stage last season.

Chelsea enjoyed a 19 per cent rise in commercial income from £67m to £79.6m as they won the Europa League, although a reduction in income from the success of winning the previous year's Champions League contributed to the £49.4m loss.

Despite that, Jose Mourinho's side will satisfy FFP regulations as the two-year monitoring period includes the £1.4m profit made in the 2011/12 season.

The Blues also see around £15m knocked off their overall loss in add backs, which includes infrastructure costs, youth development costs and charitable donations amongst other outgoings.

That brings Chelsea's losses for the period to approximately £34m, falling under the FFP threshold of £37.5m.

Financial stability

Chelsea chairman Bruce Buck said: "From the very beginning of the current ownership of Chelsea, a long-term objective was financial sustainability, and the subsequent implementation of Financial Fair Play by UEFA and by the Premier League has brought that to the top of the agenda for football clubs.

"We are pleased therefore that we will meet the stipulations set down by UEFA in their first assessment period, and by our own analysis we are progressing from a commercial viewpoint as well as continuing to add trophies to our collection, which we never lose sight of as our most important goal."

The next financial year's results will be boosted by, amongst other things, a new 10-year kit deal worth £300m.

Chief executive Ron Gourlay added: "For Chelsea to achieve a record level of turnover despite our first group-stage elimination from the Champions League shows we have structured our business and are growing in the correct way for long-term stability.

"Our philosophy is we build upon success on the pitch and although in these financial results we haven't repeated the sizeable profits made the previous year from player transfers, we believe the age profile of the existing squad means we will benefit from that investment for many years to come.

"A successful team builds awareness around the world and our increased commercial revenues in 2012/13 and new or extended partnership deals demonstrate we are working hard to capitalise on that."

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terling needs to be told though that upon entering the Arsenal squad he will re-enact the final scene from Highlander where he will be thrown around a warehouse by cartoon dragons and then be a mere mortal that will only ever spend three to four weeks a season playing football and the rest on the physio's bed. There can be only one.....player available at The Emirates.

rodger's gusset
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he game changed in our favour when Carrick came on. We were able to play further up the pitch due to having a player who can give and go with the ball and keep possession. Yet barkley made some runs and Townsend scored a good goal but carrick's inclusion and chiellini's withdrawal made the biggest difference to the flow of the game

ricky villa
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o, you've not silenced anyone Andros, i'm afraid. We know you can score a great goal, and it's really handy to have your direct running and willingness to shoot on the bench. But until you can do the other things expected of a winger (beat the man, put a decent cross in, stay wide etc) then you can't expect more than a regular cameo. Wonderful goal though, what a hit! No wonder Buffon wanted the shirt.

badwolf
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