Chelsea announce record turnover of UK£443.4m

Chelsea announce record turnover of UK£443.4m
English soccer club make record-high profit for year ending 30th June 2018.

Premier League soccer giants Chelsea have revealed a record profit and turnover in their latest published accounts.

The top-flight English club’s return to the UEFA Champions League last season contributed to their turnover figure growing by 22.7 per cent to UK£443.4 million (US$563.8 million) for the year ending 30th June 2018.The increase – up from UK£361.3 million (US$459.3 million) for the previous year – saw the Blues achieve a record-high annual profit of UK£62 million (US$78.8 million).

Chelsea’s figures benefited from a profit on player sales of UK£113 million, but the bulk of their financial growth was fuelled by broadcasting revenues increasing from UK£41.7 million to UK£204.1 million, owing to their return to European soccer’s premier knockout competition.

The club’s revenue from commercial activities also grew by UK£32 million thanks to several partnership deals, including a new kit supply tie-up with US sportswear giant Nike worth a reported UK£60 million per year.

Meanwhile, Chelsea recorded an overall increase in matchday revenues of UK£8.4 million in 2017/18 despite ticket prices being frozen since 2011/12.

The accounts do not include the severance pay for former manager Antonio Conte, who was sacked by the club just over a year after leading the club to their sixth English title.

“The club has now posted a series of record-breaking revenue figures and our profit margin has increased in consecutive years,” said Chelsea Chairman Bruce Buck. “This has occurred against a backdrop of varying participation in European football, and different degrees of achievement in the Premier League, which demonstrates we have built a sound business footing to support our on-pitch quest for success.”

Chelsea remain fourth in the Premier League after their 1-0 win away to Crystal Palace on Sunday. They host Southampton in their next fixture on 2nd January.

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