Money Men: Chelsea post profit for year ended despite coronavirus pandemic

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Chelsea posted a £32.5million profit for the year ended June 30 despite the financial implications of the coronavirus.

However, turnover dropped from £446.7m to £407.4m. Broadcasting and matchday revenues decreased by £17.6m and £12.2m, largely due to the coronavirus pandemic hitting in March. Commercial revenue dropped by £9.5m.

A total of £93.7m was invested in the squad, including contract extensions, but that figure will not include the entire summer window.

Chairman Bruce Buck said: “In common with many, many businesses across the globe, the pandemic has had a significant impact on Chelsea’s income.

“But it is a sign of the strength and stability of our financial operation that the company was still able to post a profit in the past financial year.”

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OTONY
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