Chelsea announces a profit of 32.5 million pounds for the financial year 2019-20

The Blues saw a total drop from the previous number of GBP 446.7 million (USD 610.6 million) to GBP 407.4 million (USD 556.8 million) after a season affected by off-field problems

Chelsea posted a profit of £ 32.5 million ($ 44.4 million) in their latest financial results – but the club continued to see a year-over-year drop in global turnover, in part due to the pandemic. Covid-19.

The Blues saw a total decline from the previous number of 446.7 million pounds ($ 610.6 million) to 407.4 million pounds ($ 556.8 million) for the fiscal year ended June 30, 2020, but they still got an orderly margin due to both player sales and Champions League qualifiers.

Frank Lampard’s team also remains “in line with UEFA’s balance criteria in accordance with Financial Fair Play (FFP) regulations”, according to a club statement.

Like most other clubs, Chelsea saw a significant drop in both broadcast and match revenue as a result of the suspension of the March 2020 season as the pandemic shook Europe.

Commercial revenue also took a hit, with non-match activities suspended or effectively closed, while the club continued to invest nearly £ 100 million ($ 136.7 million) in their team.

This figure does not include Lampard’s summer signatures, but Kai Havertz, Timo Werner, Ben Chilwell and Edouard Mendy arrive after the end of fiscal year 2020.

“Like many, many companies around the world, the pandemic has had a significant impact on Chelsea’s revenue,” president Bruce Buck said in a statement to the club.

“But it is a sign of the strength and stability of our financial operation that the company was still able to record a profit in the last financial year.

“This was done while we continued to invest in our playing staff and, indeed, normal football would not have stopped in March, the projections show a record profit and a record turnover would have been reached.

“This would have been an increase in revenue for the fifth consecutive year.

“Despite the impact of Covid, revenue streams have remained strong, our team is developing on the field and the Club is in a good position to continue to grow when football can function as it did before, when we all look forward to . “

Chelsea will be back in action when they face top four colleagues and hopes for Manchester City title on January 3, after taking a point from the last two games at Christmas.