Chelsea reports profits of USD 44 million, turnover takes a hit
Chelsea announced a profit of 32.5 million pounds (USD 44 million) on Thursday in the Premier League club's latest set of financial results.
London
The impact of the COVID-19 pandemic saw overall turnover for the group fall from 446.7 to 407.4 million pounds for the year ended 30 June 2020. Qualification for the Champions League and surplus made "on a number of player sales" helped the west London club post a profit. Chelsea said it also continues "to comply with UEFA’s break-even criteria under the Financial Fair Play (FFP) regulations." Broadcasting and matchday revenues decreased by 17.6 million pounds and 12.2 million pounds, respectively, which was primarily as a result of the suspension of the season from March 2020. But reduced match-day costs because of games being postponed helped partially offset the losses from the pandemic.Â
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