Chelsea announce £15.3m profit after player sales counterbalance operating loss
By James Dale
Last Updated: 30/12/17 7:30am
Chelsea recorded a £15.3m profit for the year ending June 30, 2017, after player sales helped cover an operating loss.
The club generated a profit of £69.2m from transfer business, due largely to the sale of Oscar to Shanghai SIPG for around £60m.
Chelsea said the results ensure the club continues to comply with UEFA's break-even criteria under the Financial Fair Play (FFP) regulations.
Turnover grew to £361.3m from £329.1m in the previous year, an increase of 9.8 per cent, which stems from increased broadcast revenue and winning the Premier League title.
However, the club also missed out on potential revenue by failing to qualify for the 2016-17 Champions League campaign.
"It is very pleasing we matched significant achievement on the pitch in 2016-17 with a successful year commercially," said chairman Bruce Buck.
"Our business has continued to grow long term and to be able to post record turnover figures despite not playing Champions League football during that period highlights this strength."
Chelsea have also benefited from partnership deals such as Thai energy drink, Carabao.
The club expect revenues to grow in the year 2017-18 due to revenues gained from a return to the Champions League and a new partnership with Nike.
Buck added: "Our fans played a major part, by supporting the team towards lifting the Premier League trophy, coming to our matches in large numbers, and our ever-increasing global fanbase has helped important commercial partnerships to be formed."