Chelsea Nets Loss Despite Record Turnover
Premier League leaders Chelsea FC has reported a net loss of £70.6m for the 2015-16 financial year, despite posting record turnover, largely due to the decision to buy out the existing kit deal with adidas and the compensation paid to José Mourinho following his sacking last December.
Total sales of £329.1m represented a 5% rise on £314.3m the previous year, but an overall profit of £4.7m was swallowed up by the “exceptional costs”.
Moving forward, the figures for the 2016-17 year through to the end of June will be boosted by a record £60m-per-season deal with Nike, as well as increased income from Premier League media-rights agreements.
The club finished 10th in the Premier League in the 2015/16 campaign, but now sit top of the table after 11 consecutive wins.
Chelsea chairman Bruce Buck said: “The fact Chelsea Football Club recorded our highest revenues in a season when on-pitch performance was disappointing is a credit to our hard-working, dedicated staff and the robust business they have helped build.
“It has long been our aim for the business to be stable independent of the team’s results and we continue to reinforce that.”
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