Chelsea announced £32.5m profit despite Coronavirus pandemic

Chelsea financial statement probably came as surprise to many football fans after they announced they made a profit of £32.5m despite a fall in revenue due to the coronavirus pandemic.

The London based club announced their latest financial details for the year ending June 30, 2020 and revealed a profit despite fall in revenue.

Turnover had fallen from the £446.7m to £407.4m because of the virus as broadcasting, matchday and commercial revenues all declined due to the virus impact.

Chelsea had posted a loss of £96.6m in the previous 12 months but due to qualification for the Champions League and sales of some players they were able to balance up.

Eden Hazard was the major departure from the The Blues as he sealed a transfer that could eventually worth £150m to Spanish giant Real Madrid.

Chelsea spent big in the last transfer window. Securing the likes of Ben Chilwell, Hakim Ziyech, Timo Werner, Edouard Mendy but those fees were not included in the figures.

Chelsea spent almost £250m in the last transfer window

Chelsea chairman Bruce Buck told the club’s website: “In common with many, many businesses across the globe, the pandemic has had a significant impact on Chelsea’s income.

“But it is a sign of the strength and stability of our financial operation that the company was still able to post a profit in the past financial year.

“This was done while continuing to invest in our playing staff and indeed had normal football not halted in March, projections show a record profit and record turnover would have been achieved.

“That would have represented an increase in revenue for a fifth year in succession.

“Despite the impact of COVID-19, the revenue streams remained strong, our team is developing on the pitch and the club is in a good position to continue to grow when football is able to operate as it did previously”.

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