Chelsea Announces Record Revenues
Reigning Premier League champions Chelsea FC has announced record turnover of £361.3m for the year ending 30th June 2017, which resulted in a profit for the year of £15.3m.
The turnover figure grew from £329.1m the previous year, a 9.8% increase. As part of the announcement, the Premier League side noted that broadcasting revenues increased as a result of winning the Premier League title, as well as commencement of the latest Premier League’s contracts with broadcasters.
The club also cited growth in commercial activity being a key factor following signing several partnerships, including official training wear partner Carabao.
Match day revenues in 2016/17 fell slightly due to the club missing out on European competitions, however, the club did state that match days continued to sell out, with ticket prices frozen since 2011/12 levels.
Overall, the club has said that it expects revenues to continue to grow in 2017/18 thanks to its new technical partnership with Nike, which was the biggest commercial deal in the club’s history, and participation in the UEFA Champions League.
Chairman Bruce Buck said: “It is very pleasing we matched significant achievement on the pitch in 2016/17 with a successful year commercially. 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.
“Our fans played a major part, by supporting the team towards lifting the Premier League trophy, coming to our matches in large numbers, and our ever-increasing global fanbase has helped important commercial partnerships to be formed. We thank our supporters, partners and staff for a successful 2016/17.”
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