Friday, December 29, 2017

Football: Chelsea Notches over 360m Finanially

Chelsea celebrate winning the Premier League title
Chelsea claimed the Premier League title last season and a return to Champions League football
Reigning Premier League champions Chelsea have announced a record £361.3m turnover for the 2017 financial year.
The club also reported a profit of £15.3m, which they attribute to making £69.2m on transfer dealings.
In the past three months, Manchester United (£581m) and Manchester City(£473.4m) reported record revenues - City's for a 13-month period.
Chairman Bruce Buck is pleased Chelsea "matched achievement on the pitch with a successful year commercially".
He added: "Our business has continued to grow long-term and to be able to post record turnover figures despite not playing Champions League football during that period highlights this strength."
Chelsea say they expect to revenues to continue to grow in 2017/18 thanks to their return to Champions League football and the start of a kit deal with Nike.

It is the stuff at the bottom of Chelsea's statement that is of greatest interest. In racking up a not insignificant loss of £14.2m, Chelsea's parent company Fordstam has been shown to have started paying planning costs for the enormous £500m renovations at Stamford Bridge to turn Chelsea's home into a state-of-the-art complex with a capacity of 60,000.

Work is due to commence later in 2018, with substantial work on the railway line close to the ground beginning in 2019. It is anticipated the club will remain at Stamford Bridge until 2020 before moving out for a period of up to four years. Wembley is a potential temporary home but there are other options.

-BBC Sport

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