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

2 years free Sky Broadband Unlimited for Sky Sports customers

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

2 years free Sky Broadband Unlimited for Sky Sports customers

Related News

Most Commented

Readers' Comments

H

ilarious, thanks for that. But if I may, I do suspect the reason of your partners' ire is not Tottenham, but most probably all the compusilve gambling :)

DannySmith
Backing Costa To Keep Banging 'Em In

T

wo police horses in a paddock. Horse 1: What's with the long face? Horse 2: I'm working St James Park this weekend.

hump3.
Pardew braced for protests

T

wo things. First, I can't stop reading your name as 'Dane Bowers'. Second, you used the words 'philosophy' and 'Redknapp' in the same sentence.

ajsr1982
Can United's Defence Handle Ulloa?

Footer 365

Premier League: Arsenal win 3-0 at Aston Villa to end the hosts' unbeaten start

Aston Villa’s unbeaten start to the season was ended by a devastating goal blitz as Arsenal enjoyed a 3-0 away win.

Premier League: Newcastle draw with Hull City as Papiss Cisse scores two

Substitute Papiss Cisse saved the day for Newcastle and under-fire manager Alan Pardew in their 2-2 draw with Hull City.

Premier League: Victor Wanyama earns Southampton 1-0 win at Swansea

Victor Wanyama broke the resistance of 10-man Swansea as Southampton left the Liberty Stadium with a 1-0 win.

Mail Box

Be Careful What You Wish For, Gooners

That's the message from a Man United fan in the mailbox. Plus, thoughts on Paul Lambert's new contract, the Alan Pardew dilemma at Newcastle and lots more...

No, Wenger IS To Blame For Failure...

The backlash to the backlash to the backlash sees Arsene Wenger getting a good kicking while we also have mails on Chelsea, Newcastle, Everton and lots more...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property