Chelsea Announce £32.5m Profit For 2019-20 Financial Year
Chelsea football club of England have posted a profit of £32.5 million ($44.4m) in their latest financial results.
Due to the Covid-19 pandemic, the Blues saw their total turnover go down from the previous number of £446.7m ($610.6m) last year to £407.4m ($556.8m) this fiscal year ending June 30 2020.
Most of the profit was made from player sales and Champions League qualification.
Chelsea also remain compliant “with UEFA’s break-even criteria under the Financial Fair Play (FFP) regulations,” according to a club statement .
Chelsea also saw a significant fall in both broadcasting and matchday revenues, as a result of the suspension of the season from March 2020 at the height of the covid-19 pandemic.
Commercial revenue also fell as non-matchday activities effectively suspended or closed, while the club further invested close to £100m ($136.7m) in their squad.
That figure does not include the club’s big-money summer signings however, with Kai Havertz, Timo Werner, Ben Chilwell and Edouard Mendy all arriving after the 2020 fiscal year.
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