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Chelsea announces record profits and turnover

Chelsea FC has revealed a record profit and turnover for the year ending June 30, 2018.

The London club, which currently sits fourth in the Premier League, grew its turnover by 22.7 per cent to £445m (€494m/$565m) and reported a profit of £62m. The profit could be attributed to an increase in broadcast revenues of £162.4m as a result of the club’s return to the Champions League in the 2017-18 season and a profit on player sales worth £113m.

Chelsea’s £60m-a-season kit deal with Nike, which began at the start of the 2017-18 season, helped to drive a £32m increase in commercial revenues.

The club also reported an £8.4m increase in matchday revenues, despite freezing ticket prices at 2011-12 levels.

Chelsea chairman Bruce Buck said on the club’s official website: “The club has now posted a series of record-breaking revenue figures and our profit margin has increased in consecutive years.

“This has occurred against a backdrop of varying participation in European football, and different degrees of achievement in the Premier League, which demonstrates we have built a sound business footing to support our on-pitch quest for success.”

Chelsea reported a turnover of £361.3m and profit of £15.3m in the previous financial year.