Chelsea comply with FFP despite £23 million loss

Chelsea comply with FFP despite £23 million loss

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STAMFORD BRIDGE

Chelsea FC have announced a loss of £23.1 million for this financial year but insists it still complies with all laws relating to Financial Fair Play (FFP).

The loss comes despite the club posting its second biggest turnover ever of £314.3 million and means the club is getting closer to the target of breaking even. The figures are particularly impressive one considers Stamford Bridge’s limited capacity and the team’s early exit from last season’s Champions League.

Speaking about the figures, Chelsea chairman Bruce Buck released a statement that read like this:

“Chelsea Football Club has been consistent in our intention to comply with FFP and it was a primary aim in the past financial year to be one of the clubs with a continuous record of meeting the regulations, which we have achieved.

“To record the second-highest turnover figure in the club’s history, despite the Champions League campaign ending at the earliest knockout round, demonstrates our business is robust and is testament to good work regarding our commercial activities, our growing fan base around the world and the tremendous support the team received at home and away matches in 2014-15.

“Our programme of partnering with world-renowned and innovative market-leaders is accelerating and the beneficial impact made by the Chelsea Foundation in more than 30 countries continues to set the top standard. We thank our fans for another season of sell-out attendances at Stamford Bridge in 2014-15 and for our support everywhere. We hope they enjoyed what was a very successful year.”

Chelsea’s £40 million a year sponsorship deal with Yokohama Tyres is a big factor in the financial results, as well as the the club regaining the Premiership title last season.