Dec 31, 2013, 5:59 PM EDT
Despite record turnover of near $425 million, Chelsea have reported a loss of $81.6 million for the year ending in June 2013, a number sure to raise eyebrows of those conscious of UEFA’s Financial Fair Play guidelines. Club officials, however, pointed out the profit the club made in 2012 helps the team stay within the European governing body’s financial guidelines, steering the Blues clear of possible long-term repercussions on their Champions League eligibility.
According to a statement from Chelsea, the team’s inability to advance past the group stage of the 2012-13 UEFA Champions League played a major part in the club’s financial downturn despite an increase in income.
“[A] 19 percent rise in commercial income from 67 million to 79.6 million pounds is a clear indication Chelsea is moving in the right direction in terms of business growth,” the club said in its Tuesday statement, “as is a turnover figure that increased for a fourth consecutive year despite diminished European competition revenue.”
Financial Fair Play regulations say teams can lose no more than €45 million ($61.9 million) each year, but as club communications head Steve Adkins told Reuters, “complicated accounting rules” mean Chelsea’s “actual loss” was $56.2 million, keeping them within UEFA’s guidelines.
“The latest financial result combined with the previous year’s profit of 1.4 million pounds means for the first monitoring period for FFP regulations – which spans the 2011/12 and 2012/13 seasons – we will fall comfortably within the break-even criteria set by UEFA,” Chelsea affirmed on their web site.
That Chelsea have been one of the world’s most aggressive spenders highlights how lenient Financial Fair Play’s restrictions are, the Blues able to comply with the guidelines despite missing out on significant Champions League revenues. Few teams, however, are experiencing the same commercial growth as Roman Abramovich’s club, with figures published by Deloitte showing Chelsea have the fifth highest annual revenues in world soccer.
Apr 21, 2015, 9:03 PM EDT
If you’d like your supporters group to be featured on future episodes of ‘I Was There’ simply send pictures/video to @NBCSportsSoccer or on NBC Sports Soccer on Facebook using the #IWasThere hashtag.
Apr 21, 2015, 8:15 PM EDT
The first spots in the semifinals have been determined as two of Europe’s top clubs made light work of their opposition today.
Apr 21, 2015, 7:25 PM EDT
Enrique has won 42 of his first 50 games in charge at Barcelona, and has his side gunning for a treble.
Apr 21, 2015, 6:37 PM EDT
Toure: “No amount of wages will make me stay at a club if I feel that I no longer belong there or if no challenge exists for me.”
Apr 21, 2015, 5:48 PM EDT
Time to take a trip down memory lane and look at some stunning UCL comebacks.
Apr 21, 2015, 5:08 PM EDT
This. Is. Awesome.
Apr 21, 2015, 4:45 PM EDT
Guardiola’s boys batter Porto to reach the final four of the Champions League.
Barcelona 2-0 (5-1, agg.) Paris Saint-Germain: Neymar brace eases Barca into Champions League semifinals
Apr 21, 2015, 4:39 PM EDT
Barcelona reaches the semifinals for the seventh time in eight seasons as the Catalans eliminated PSG from Champions League play.
Apr 21, 2015, 3:39 PM EDT
Bayern Munich has put in FIVE first half goals against FC Porto, while Barcelona tightened it’s grip on a semifinal berth.
Apr 21, 2015, 3:18 PM EDT
A thigh strain threatens to end his injury-plagued season.
Apr 21, 2015, 2:33 PM EDT
Manchester United spent the most money in the Premier League, while Tottenham made the most.
FOLLOW LIVE – Champions League: Bayern Munich, PSG aim to overturn 3-1 deficits to Barcelona, FC Porto
Apr 21, 2015, 2:05 PM EDT
Two UCL quarterfinals will take place on Tuesday. Follow them both live, right here.
Wolfsburg, already down 4-1, will be without De Bruyne and Schurrle for Europa League 2nd leg vs Napoli
Apr 21, 2015, 12:36 PM EDT
As they look to mount a dream comeback on the road, the Bundesliga club will be without two of its best attackers.
Apr 21, 2015, 11:41 AM EDT
Palermo president Maurizio Zamparini has dubbed him the “new Messi” in an attempt to boost his value.
Apr 21, 2015, 10:23 AM EDT
With the most goals of any defender in the Premier League, Chris Smalling has emerged as a solid member of Louis van Gaal’s lineup at Old Trafford.
Apr 21, 2015, 10:01 AM EDT
Manager Neil Redfearn is dealing with countless off the field issues, while the club’s legal team now has a new task with problems piling up.
Apr 21, 2015, 9:12 AM EDT
A player whose departure many thought was a foregone conclusion appears to be reconsidering.
Apr 21, 2015, 8:00 AM EDT
NBCSports.com’s Managing Editor Randy Kim spoke with Der Kaiser, as the German legend visited NYC.
Apr 21, 2015, 7:42 AM EDT
Gareth Bale, Luka Modric, and Marcelo are all already out for tomorrow’s 2nd leg with Atletico Madrid, and now their striker is unavailable as well.
Apr 20, 2015, 11:27 PM EDT
Mourinho says Chelsea will look to the club’s stacked youth academy for reinforcements, as well as the transfer market.
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