Chelsea announce record profit, turnover for 2013-14 season

By foxsports
Published

Chelsea have announced a profit of $28.9 million and a record turnover of $50.2 million for the year ending June 30, 2014.

Figures released on Thursday, showed the west London club recorded their second profit in three years and the largest since Roman Abramovich took over the club in 2003. The club state the figures demonstrate they have satisfied UEFA's break-even criteria under the Financial Fair Play regulations (FFP).

In a statement on the club's website, details of the record-breaking performance off the field were outlined, including a special reference to their success despite failing to win a trophy last season.

"The £18.4 million profit follows the £1.4 million generated two years ago with strong revenue increases during the 12-month period contributing to the figures," the statement read. "The turnover figure demonstrates that business growth continues in seasons without trophy success as well as in years when silverware is won. The new FAPL broadcasting deal contributed significantly as did commercial income."

The statement added: "There was a small rise in matchday income but with Stamford Bridge filled to capacity year after year there was no scope for significant financial growth in this area. The latest financial results combined with those from the previous two years mean that for the second monitoring period for FFP we will fall comfortably within the limits set by UEFA."

Chelsea chairman Bruce Buck said: "The club is naturally pleased to record a significant profit for 2013-14. By reaching the Champions League semifinal 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 football's toughest club competitions.

Buck added: "Going forward, we have ambitious plans to build a pioneering global commercial program, partnering with innovative and market-leading organizations from around the world. In the era of FFP, we must progress commercially to continue the circle of success to invest in the team and get results."