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

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

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."

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

O

ne of the conclusions from this list is that Man City should never buy a striker in January - good luck Wilfried Bony....

Savinator
F365's Top Ten Worst January Panic Buys

I

was there, it was embarrassing - the team looked totally unbalanced from the off, the defence was woeful and when Mikel came off injured it got even worse with nobody in front of them. Up front on several occasions we had opportunities and nobody would shoot - it was a complete farse! On the back of Salah's performance I'm glad there is talk of getting shot...

Fly1ngh1gh
Cup defeat shames Mourinho

G

reat to see Tommy Rosicky getting some love. A wonderful player. Such a pity we lost so long to injury. I was so excited when we signed him, this resurgence only makes the absences seem more of a lost opportunity.

cheshire-gooner
16 Conclusions: FA Cup Fourth Round Weekend

Footer 365

Transfer news: Samuel Eto'o leaves Everton for Sampdoria on free transfer

Samuel Eto'o has completed his free transfer from Everton to Sampdoria on a two-and-a-half-year deal.

Premier League news: Stoke striker Bojan will miss remainder of the season

Bojan will miss the remainder of the season after sustaining a knee ligament injury against Rochdale.

Sky sources: Football Association to endorse Prince Ali's bid for FIFA presidency

Sky sources understand the Football Association will back Prince Ali Bin Al Hussein's bid to become FIFA president.

Mail Box

The Problem With FA Cup Shocks...

...is that the draw for the next round is pretty shocking. Blackburn v Stoke, anybody? We also have mails on LVG and ManUnited, who drew plenty under Fergie...

You're Man Utd, For Crying Out Loud!

Defending a 0-0 draw with Cambridge on the grounds that other teams lost to lower-league opposition is not befitting of Man United. We're inclined to agree with Mailboxers...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company