Chelsea Announce USD 34.8 Million Losses Over Past Year
Defending English Premier League champions, Chelsea have suffered one setback after another on-field this season and it seems their fortunes have taken a hit off-field as well after the club recorded 5.5 million pounds less revenue than the previous year.
English football club Chelsea announced that they have endured losses of 23.1 million pounds (around USD 34.8 million) over the past year. (Chelsea on Brink on Champions League Last 16 Spot After Maccabi Win)
Chelsea have recorded revenues of 314.3 million pounds (USD 474 million), 5.5 million pounds (USD 8.3 million) less than the previous year, the London club declared on Tuesday, reports Efe. (Jose Mourinho Hopes Break Refreshes Chelsea and Eden Hazard)
"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," Chelsea president Bruce Buck said in a statement. (John Terry Rallies Behind Jose Mourinho as Chelsea F.C.'s Troubled Season Continues)
Russian billionaire Roman Abramovich, owner of Chelsea, said he expects the club's revenues to increase during the next fiscal year, thanks to a record-breaking partnership with Japanese company Yokohama, which will provide the club with around 40 million pounds a year ($60.3 million).