Chelsea records $128 million loss, turnover up | Inquirer Sports

Chelsea records $128 million loss, turnover up

/ 02:31 PM January 01, 2020

chelsea loses premier league

Chelsea’s Jorginho, left, celebrates with his teammate Cesar Azpilicueta after scoring his side’s first goal during the English Premier League soccer match between Arsenal and Chelsea, at the Emirates Stadium in London, Sunday, Dec. 29, 2019. (AP Photo/Ian Walton)

LONDON — Chelsea has recorded a loss of 96.6 million pounds (around $128 million) for the year ending June 30.

The loss was revealed Tuesday in the Premier League club’s latest financial results.

Article continues after this advertisement

After two profitable years, Chelsea insisted it’s still compliant with UEFA’s Financial Fair Play regulations.

FEATURED STORIES

The club cited a lack of Champions League football, costs associated with changing manager and a record outlay on players Kepa Arrizabalaga, Christian Pulisic, Mateo Kovacic and Jorginho for the loss.

Turnover grew slightly to 446.7 million pounds.

Article continues after this advertisement

“Consistent revenue growth and careful financial management over recent seasons has allowed the club to make significant levels of investment in the playing staff whilst maintaining compliance with UEFA Financial Fair Play regulations,” Chelsea chairman Bruce Buck said on chelseafc.com.

Article continues after this advertisement

“This has contributed to another Europa League victory at the end of the 2018-19 season and a return to the highest level of European competition.

Article continues after this advertisement

“This solid commercial foundation, allied to a young and exciting team now led by Frank Lampard, means that the club is well placed to sustain its pursuit of success both on and off the pitch as well as maintain its financial stability over the coming years.”

Chelsea made a 62 million pound profit in the previous year.

Article continues after this advertisement

The London club is fourth in the Premier League, 20 points behind leader Liverpool, and plays at Brighton on Tuesday.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Chelsea, English Premier League, EPL, Football, Sports

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.