Skip to main content

Record profit at Chelsea

Roman Abramovich pumped another £63.1m into Chelsea last season despite the club making a record profit, although this was reliant on player sales. Abramovich has put money into Chelsea every year since he became owner in 2003.

Nevertheless, his investment is surprising given that Chelsea made a profit of £62m last season with a record turnover of £443.4m, up £22.7m. The size of Chelsea's debt to Abramovich has now grown to £1.13 billion.

A sign of the times in that Abramovich didn’t pay for his hospitality box in 2017/18 as a hostile London environment to Russian oligarchs resulted in him rarely being seen in London.

The wage bill was up 11 per cent to £244.1m as new players signed on big contracts. This represented an acceptable 55 per cent of turnover. Directors pay more than tripled.

Chelsea spent a net £125m on transfers last summer. Their squad was valued at £843m, up from £445m the previous year.

Kieran Maguire of the PriceofFootball reveals, 'Chelsea financial results shows the club extracted more money per fan over the season (£1,781) than any other club. Arsenal were top in 2017, but lack of Champions League participation means unlikely to leapfrog CFC when Arsenal publish their results (which are late).'

Comments

Popular posts from this blog

Fulham requires big funding from owner

After lengthy delays, Fulham’s shiny, new Riverside Stand has finally opened, creating “a unique Thameside destination with first class facilities for supporters and partners on match days, as well as for the wider community year-round”. This ambitious project has increased Craven Cottage’s capacity by around 4,000 to 29,600, while it has also taken advantage of the club’s fantastic location and wealthy catchment area by including two Michelin star restaurants, a rooftop swimming pool, corporate hospitality and event space, all benefiting from views of the Thames. Chief executive Alistair Mackintosh observed, “Fulham is the sort of club that can have a business class or first class and have fans that turn left on a plane.” Indeed, there is also an exclusive members club – with a football season ticket as an optional extra. It’s fair to say that “the times they are a-changing”, as this is a long way from the traditional pie and a pint. However, in a world where clubs face the tw...

Threat of financial calamity removed from Baggies

West Bromwich Albion had effectively been in decline ever since the club was sold to a Chinese consortium in August 2016, paying a figure north of £200m to buy former owner Jeremy Peace’s stake. Controlling shareholder Guochuan Lai’s ownership was fairly disastrous for the club, but his unloved tenure finally came to an end after Bilkul Football WBA, a company ultimately owned by Florida-based entrepreneur Shilen Patel and his father Dr Kiran Patel, acquired an 87.8% shareholding in West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club. This change in ownership was urgently required, due to the numerous financial problems facing West Brom, including growing high-interest debt and serious cash flow concerns, following years of no investment from the former owner. Indeed, West Brom’s auditors had already rung the alarm bell in the 2021/22 accounts when they cast doubt on the club’s ability to continue as a going concern without making player s...

A poor financial record, but new hope at Everton

I recently saw an amusing video online in which a group of Everton fans were rebuked in jest for being hopeful.  Football fans in general tend to swing between excessive optimism and excessive pessimism, but for many it seems that moaning is in their bloodstream (Spurs fans probably take the trophy).  However, Everton fans have had plenty to moan about on and off the pitch.   Let’s hope that a new era is about to begin for this grand old club. Everton’s 2023/24 financial results covered a fairly momentous season, when they ended up 15th in the Premier League, though they would finished three places higher if they had not received an 8-point deduction for breaching the Premier League’s Profitability and Sustainability Regulations (PSR). It was a worrying time for Everton fans, as the club faced a “perfect storm” of issues, including large financial losses, an ever increasing debt burden, a challenging stadium build and the tortuous sale of the club. There were eve...