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Premier League champions Chelsea announce losses of £23m but still comply with FFP regulations
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Premier League champions Chelsea have announced losses of £23.1m for the year, despite their second ever highest amount of turnover.
On revenues of £314.3m for the year, a £23.1m loss was recorded but after relevant adjustments the club is comfortably within the allowable limits of FFP, which measures expenditure against the income from football-related activities.
Last year the club recorded a record turnover £319.8m, with this year slightly down on that at £314.3m. Revenues fell slightly short of that amount due to the team’s relative UEFA Champions League performance (semi-final in 2013/14 compared with round of 16 in 2014/15).
The club however are expecting to beat their record turnover in the next year thanks to new commercial deals, including their record-breaking partnership with Yokohama, and revenues related to this season’s Champions League which improve due to entering as Premier League champions and an increase in TV revenue for English clubs.
Chairman Bruce Buck said: "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 fanbase 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."
Chelsea can qualify for the Champions League knock-out stages this evening if they beat Israeli side Maccabi Tel-Aviv.