Chelsea Football Club Announces £32.5m Profit For 2019-20 Financial Year

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English football club Chelsea has announced a profit of £32.5 million ($44.4m) for 2019-2020 financial year.

Chelsea Football Club Announces £32.5m Profit For 2019-20 Financial Year
Frank Lampard

Chelsea football club of England have posted a profit of £32.5 million ($44.4m) in their latest financial results.

Due to the Covid-19 pandemic, the Blues saw their total turnover go down from the previous number of £446.7m ($610.6m) last year to £407.4m ($556.8m) this fiscal year ending June 30 2020.

Most of the profit was made from player sales and Champions League qualification.

Chelsea also remain compliant “with UEFA’s break-even criteria under the Financial Fair Play (FFP) regulations,” according to a club statement .

Chelsea also saw a significant fall in both broadcasting and matchday revenues, as a result of the suspension of the season from March 2020 at the height of the covid-19 pandemic.

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Commercial revenue also fell as non-matchday activities effectively suspended or closed, while the club further invested close to £100m ($136.7m) in their squad.

That figure does not include the club’s big-money summer signings however, with Kai Havertz, Timo Werner, Ben Chilwell and Edouard Mendy all arriving after the 2020 fiscal year.

Chelsea Football Club Announces £32.5m Profit For 2019-20 Financial Year

“In common with many, many businesses across the globe, the pandemic has had a significant impact on Chelsea’s income,” chairman Bruce Buck noted in a club statement .

“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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“This was done while continuing to invest in our playing staff and indeed had normal football not halted in March, projections show a record profit and record turnover would have been achieved.

“That would have represented an increase in revenue for a fifth year in succession.

“Despite the impact of Covid, the revenue streams remained strong, our team is developing on the pitch and the Club is in a good position to continue to grow when football is able to operate as it did previously, a time we are all looking forward to.”

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