£68m an­nual loss for Chelsea

Midweek Sport - - RACING EXTRA - By RAY WATTS

CHELSEA made a to­tal loss of £67.7mil­lion for the fi­nan­cial year end­ing June 30, 2011.

The club re­vealed its op­er­at­ing loss had re­duced from a fig­ure of £70.9m as it aims to fall in line with UEFA’S new fi­nan­cial fair play rules.

Trans­fer fees were a main con­trib­u­tor to the loss, but the club had a record group turnover of £222.3m. That fig­ure was £205.8m last year and in­creased thanks to higher re­ceipts from the Cham­pi­ons League and a rise in in­come from the cen­tral Premier League TV con­tract re­lat­ing to over­seas broad­cast­ing.

Chelsea chair­man Bruce Buck (left) said: “The club is fo­cused on com­ply­ing with the re­quire­ments of UEFA’S fi­nan­cial play reg­u­la­tions while main­tain­ing its abil­ity to chal­lenge for ma­jor tro­phies.

“We would ex­pect this to be re­flected in our re­sults for the cur­rent fi­nan­cial year.”

Chelsea chief ex­ec­u­tive Ron Gourlay added: “Achiev­ing a record level of turnover is sat­is­fy­ing given the eco­nomic back­ground.”

fair

HANDS OFF: Tevez is

in an­other money bat­tle with Man City

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.