£68m annual loss for Chelsea
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.”
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