Skip to content

Chelsea reports $81.6 million loss in 2013 fiscal year

Dec 31, 2013, 5:59 PM EDT

chelsea

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.

Latest Posts
  1. Transfer Rumor Roundup: Cuadrado to Manchester United, Lukaku to Everton

    Jul 30, 2014, 9:11 AM EDT

    Colombia v Uruguay: Round of 16 - 2014 FIFA World Cup Brazil Getty Images

    United to splash the cash? Lukaku on his way out of Chelsea? All the latest gossip, right here.

  2. Yaya Toure confirms he will stay at Manchester City

    Jul 30, 2014, 8:27 AM EDT

    Cardiff City v Manchester City - Premier League Getty Images

    Toure: “My decision is that I will stay at Manchester City for as long as possible.”

  3. Steven Gerrard endured “worst three months” of his life after Liverpool, England heartbreak

    Jul 30, 2014, 7:48 AM EDT

    Steven Gerrard believes Liverpool will prove themselves champions come next season. Getty Images

    After losing the PL title late in the season, then England being knocked out of the World Cup, can Gerrard bounce back?

  4. Edin Dzeko in talks with Manchester City over new contract

    Jul 29, 2014, 11:20 PM EDT

    Edin Dzeko

    “I can only say that I’m very happy at City and at the moment we are talking about a contract,” Dzeko said.

  5. San Lorenzo to use Viagra to counter elevation in Bolivar match

    Jul 29, 2014, 10:36 PM EDT

    San Lorenzo

    The 3,600 meters of elevation will provide a stiff challenge, with many opposing clubs having fallen victim to the altitude.

  6. Premier League on tour, Tuesday roundup: United beat Inter in penalties

    Jul 29, 2014, 9:43 PM EDT

    louis_van_gaal Getty Images

    Manchester United continued their success in the US with a third consecutive victory.

  7. WATCH: Daniel Sturridge and Jordan Ibe sing Drake’s ‘Too Much’

    Jul 29, 2014, 9:01 PM EDT

    England Press Conference Getty Images

    Sturridge and Ibe step to the mic and hold their own.

  8. Watch Live: Manchester United vs. Inter Milan (Lineups and Discuss)

    Jul 29, 2014, 8:24 PM EDT

    International Champions Cup 2014 - AS Roma v Manchester United Getty Images

    In team news, van Gaal has decided to go with his fabled 3-5-2.

  9. Instagram Transfer Rumors: Radamel Falcao heading to Real Madrid

    Jul 29, 2014, 8:03 PM EDT

    Radamel Falcao AP

    In a startling revelation, AS has revealed that Radamel Falcao has begun following three Real Madrid players on Instagram.

  10. Report: Southampton set to swap Dani Osvaldo for Inter Milan’s Saphir Taidar

    Jul 29, 2014, 7:08 PM EDT

    Norwich City v Southampton - Premier League Getty Images

    Big day for headlines coming out of Southampton but this one looks to be quite promising for Saints fans.

  11. Luis Felipe Scolari hired by Gremio for third stint with Brazilian club

    Jul 29, 2014, 6:30 PM EDT

    Brazil - 2014 FIFA World Cup Training Camp - Day 1 Getty Images

    Twenty-seven years after his first stint with Gremio, Luis Felipe Scolari is returning to the Brazilian side as its new manager.

  12. WATCH: Bojan Krkic scores first goal for Stoke City in 2-1 defeat to Schalke

    Jul 29, 2014, 6:00 PM EDT

    Bojan Krkic AP

    Krkic, who made the $6.7 million move from Barcelona last week, scored a cracker of a first goal for Stoke City.

  13. Report: Carlos Tevez’ stepfather freed by Argentine kidnappers

    Jul 29, 2014, 5:25 PM EDT

    Juventus v Atalanta BC - Serie A Getty Images

    Tevez’s family was then phoned and told to deliver a ransom of $5,000 (40,000 pesos).

  14. Southampton chairman claims club will reinvest $165M in this transfer window

    Jul 29, 2014, 4:53 PM EDT

    Saints have a new Saints have a new

    “Every penny of that will be up for reinvestment as transfer fees and wages,” Krueger said.

  15. Ronaldinho leaves Atletico Mineiro, could be headed to MLS

    Jul 29, 2014, 4:03 PM EDT

    Brazil Atletico Mineiro Ronaldinho AP

    Where, exactly, Ronaldinho’s future ends up is anyone’s guess.

  16. WATCH: Five international, MLS games coming your way on NBC Sports this week

    Jul 29, 2014, 3:22 PM EDT

    PremierLeagueNBC

    ICC and MLS action is in full swing in the USA this week. Watch it all online, here.

  17. New York City FC sign Jacobson from Dallas, linked with Alberto Aquilani

    Jul 29, 2014, 2:57 PM EDT

    Montreal Impact v FC Dallas AP

    Jacobson arrives in the Big Apple from Dallas. Will Aquilani join him?

  18. Morgan Schneiderlin slams Southampton after Spurs move is blocked

    Jul 29, 2014, 2:20 PM EDT

    Southampton v Fulham - Premier League Getty Images

    Now Schneiderlin wants out as Saints’ incredible exodus continues to take a turn for the worst.

  19. Barcelona reveal record income levels of $711 million

    Jul 29, 2014, 1:58 PM EDT

    Manchester City v Barcelona - UEFA Champions League Round of 16 Getty Images

    Despite not winning any silverware last season, Barcelona were big winners off the pitch.

  20. Report: Carlos Tevez’s father kidnapped, held for ransom

    Jul 29, 2014, 1:21 PM EDT

    Aston Villa v Manchester City - Premier League Getty Images

    Tevez’s father, Juan Carlos Cabral, is said to have been kidnapped in Buenos Aires and held for ransom.