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Chelsea Announce Loss of £49.4million for Financial Year Ending June 30

stamford bridge Chelsea Announce Loss of £49.4million for Financial Year Ending June 30

Chelsea Football Club have announced a loss of £49.4million for the financial year ending June 30.

The club attributes the near £50million loss to a decrease in UEFA Champions League revenue in 2013 after an exit at the first group-stage compared to the previous year when the club won the tournament.

Chelsea, however, claim that the club now meet the Financial Fair Play standards set out by UEFA, stating “our financial results for the year ended 30 June 2013, which when combined with those from last year will enable the club to satisfy UEFA’s break-even criteria within the Financial Fair Play regulations.”

Chelsea Chairman Bruce Buck said:

“From the very beginning of the current ownership of Chelsea Football Club, a long-term objective was financial sustainability, and the subsequent implementation of Financial Fair Play by UEFA and by the Premier League has brought that to the top of the agenda for football clubs.

“We are pleased therefore that we will meet the stipulations set down by UEFA in their first assessment period, and by our own analysis we are progressing from a commercial viewpoint as well as continuing to add trophies to our collection, which we never lose sight of as our most important goal.”

Editor’s note: For the latest Blues news, analysis and opinion, visit the Chelsea team page.

This entry was posted in Chelsea, Leagues: EPL. Bookmark the permalink.

4 Responses to Chelsea Announce Loss of £49.4million for Financial Year Ending June 30

  1. IanCransonsKnees says:

    How’s about reporting that Bolton lost the same figure last year and owe £164m! That revelation begs the question is the Premier League really worth it for those outside the top 6 anymore?

    No wonder Phil Gartside wanted a PL1 and PL2.

  2. Chris S says:

    Bolton are feeling the cost of relegation and don’t look like they’ll be returning to PL anytime soon. Blackburn and QPR have even bigger wage bills so they’ll also be feeling the pain. Fortunately most of the big earners have been off-loaded i.e. Petrov, Jasskelainen, K. Davies etc.

    Bolton’s debt, though significant, is owed predominantly to the owner Eddie Davies. It stretches back to the 90′s and includes the stadium, academy, training ground, hotel and office block. So a lot of it is in bricks and mortar.

    Relegation from the Premier League is very expensive, especially if you’ve built up a squad of players on big wages that can’t be shifted. Transfer fees are written off as no other team are prepared to sign them and Bolton are having to run down their contracts.

    If any Yanks out there would like to take Stuart Holden off Bolton’s hands then the club would be mightily grateful. With an incredible 30 apps in 4 years, you might just get 8 games a year out of him, if you wrap him in cotton wool and bubble wrap.

    Chelsea on the other hand are always run at a massive loss, season after season. Even with their UCL earnings they can’t sustain their spending without a new stadium and that wont be happening anytime soon.

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