Financial results announced with FFP compliance maintained
News Mon 23 Nov 2015
Chelsea FC plc today announced our annual financial results for the year ended 30 June 2015 with the club’s second highest turnover figure and break-even under UEFA’s Financial Fair Play (FFP) regulations achieved.
On revenues of £314.3m for the year, a £23.1m loss was recorded but after relevant adjustments the club is comfortably within the allowable limits of FFP, which measures expenditure against the income from football-related activities. Chelsea has complied with FFP criteria throughout its monitoring periods which began with the 2011/12 season.
The group turnover figure of £314.3m was marginally down on last year’s all-time record of £319.8m. Revenues fell slightly short of that amount due to the team’s relative UEFA Champions League performance (semi-final in 2013/14 compared with round of 16 in 2014/15).
The latest turnover remains by some distance the second best in the club’s history. In 2013, turnover was £255.8 million which itself was an increase for a fourth consecutive year.
Matchday and commercial revenues for year 2014/15 were largely unchanged from the previous year. The stadium continued to sell out and general admission prices remain frozen at 2011/12 levels.
Following our Premier League championship-winning season, we expect the current year to produce record revenues once again. These will be powered by new commercial deals, including our record-breaking partnership with Yokohama, and revenues related to this season’s Champions League which improve due to entering as Premier League champions and an increase in TV revenue for English clubs.
Chairman Bruce Buck said: ‘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 fanbase 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.’