Chelsea FC reports a record £18m in annual profit Chelsea Football Club has reported a record profit of £18.4m ($29m) for the year to June 2014 - despite last seasons lack of silverware. The London team has only once before turned a profit in the 10 years since it was acquired by Russian billionaire Roman Abramovich. The club said a new TV broadcasting deal, as well as the sale of players such as Juan Mata, had boosted profits. Chelsea are currently unbeaten at the top of the Premier League. They also top their Champions League group. In 2012, Chelsea reported a profit of £1.4m, its first under Mr Abramovich. The club then made a loss in 2013. This years profits mean the club satisfies the Financial Fair Play (FFP) rules imposed by Uefa, European footballs governing body. Under FFP, clubs need to balance football-related expenditure - transfers and wages - with television and ticket income, plus revenues raised by their commercial departments. Money spent on stadiums, training facilities, youth development or community projects is exempt. Bruce Buck, Chelseas chairman, said the clubs focus was first and foremost on the teams performance. By reaching the Champions League semi-final and maintaining a challenge in the Premier League until the final week of the season we demonstrated that, while improving our financial figures, we remained competitive in footballs toughest club competitions, he said.
Posted on: Fri, 14 Nov 2014 06:38:49 +0000
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