Chelsea recorded a loss of £23.1m over the financial year ending 30 June, 2015, after last year’s profit of £18.4m, but are confident they will still comfortably comply with Uefa’s financial fair play criteria.
The group turnover of £314.3m, according to the latest results released by the club, was also marginally down on the previous year’s record of £319.8m. Chelsea put this down to their elimination from the Champions League in the first knockout round compared with a semi-final appearance in 2014. But that figure is still the second best in the club’s history – the Premier League champions turned over £255.8m in 2013.
Chelsea have made great play in recent years of seeking to fall well within Uefa’s FFP stipulations, which measure expenditure against income from football-related activities. Juan Mata, Romelu Lukaku and David Luiz have been sold in recent transfer windows, to Manchester United, Everton and Paris Saint-Germain respectively, to fund further spending on the team in what has represented a change of strategy by the owner, Roman Abramovich.
Those sales, along with those of Kevin de Bruyne, Ryan Bertrand and André Schürrle, have served in effect to fund the arrivals of Cesc Fàbregas, Diego Costa and Juan Cuadrado. Chelsea, who have complied with FFP regulations throughout Uefa’s monitoring period which began in the 2011-12 campaign, pointed to the particularly significant fees generated by the departures of David Luiz and Lukaku in the summer of 2014 when explaining the previous year’s profit. These latest figures also take into account the new five-and-a-half-year contract signed by Eden Hazard which established him as the highest-paid player at the club.
Chelsea reported match-day and commercial revenues for the 2014-15 season as largely unchanged from the previous year. The stadium continued to sell out and general admission prices remain frozen at 2011-12 levels. Chelsea anticipate record revenues again next season to reflect their new sponsorship deal with Yokohama Rubber, which is worth around £40m a year, and revenues related to this season’s Champions League. Those improve because the London club entered the competition as Premier League champions and with an increase in television revenue for English clubs.
Whether that remains the case for the following year is unclear. Chelsea are 15th in the table and could miss out on Champions League qualification for 2016-17, with its associated revenues, although a new domestic television deal will apply for the financial year to temper that possible blow.
“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,” said the chairman, Bruce Buck. “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 fan base 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. We thank our fans for another season of sell-out attendances at Stamford Bridge in 2014-15 and for our support everywhere. We hope they enjoyed what was a very successful year.”
