Chelsea announce record profit and turnover

Chelsea have revealed a record profit and turnover in the club’s latest published accounts.

The Blues’ return to the Champions League in 2017-18 contributed to the turnover growing by 22.7 per cent to £443.4million in the financial results for the year ending June 30, 2018.

And a record-high profit of £62m was achieved, after a profit on player sales of £113m and an increase in broadcast revenues of £162.4m as a result of Chelsea’s return to Europe’s elite club competition.

The accounts do not include the severance pay for Antonio Conte or his coaching staff.

Conte was sacked in July after the Blues’ fifth-placed finish and failure to qualify for the Champions League this season.

Chelsea reported a £32m increase in commercial revenues following several partnership deals, including the kit deal with Nike worth a reported £60m a year.

And the club says there was a £8.4m increase in matchday revenues, despite ticket prices being frozen at 2011-12 levels.

Chelsea chairman Bruce Buck said on the club’s 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’s financial results for the previous year – until June 30, 2017 – reported a turnover of £361.3m and profit of £15.3m.

The latest figures include the sales of Diego Costa to Atletico Madrid, Nemanja Matic to Manchester United, Nathan Ake to Bournemouth and the permanent transfer of Juan Cuadrado to Juventus.