Dec 31, 2013, 5:59 PM EST
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.
Mar 7, 2014, 2:26 AM EST
Joe Prince-Wright and Mike Prindiville discuss this weekend’s meeting relegation-embattled Cardiff City and Fulham.
Mar 7, 2014, 12:12 AM EST
What definitely will not happen in the upcoming Major League Soccer season.
Mar 6, 2014, 8:45 PM EST
Who’s hot and who’s not? It’s all change in the latest PL Power Rankings, as sides shuffle with 10 games to go:
Mar 6, 2014, 7:54 PM EST
The Supporters’ Shield winners could be without Henry, Cahill, and Olave on Saturday in Vancouver.
Mar 6, 2014, 6:39 PM EST
Atlanta will have to stumble to miss out on expansion, with Minneapolis also looking like a favorite to snare on of the league’s next franchises.
Mar 6, 2014, 5:23 PM EST
No. 1 was easy. It’s 2 through 10 that were hard.
Mar 6, 2014, 4:25 PM EST
Azerbaijan, Turkey, and Nigeria will help the U.S. prepare for Brazil.
Mar 6, 2014, 3:18 PM EST
The Black and Red give their newest star the deal Seattle couldn’t.
Mar 6, 2014, 2:58 PM EST
Can the Baggies seal an unlikely double over United? Watch live on NBCSN, Saturday, 7:45 a.m. ET:
Mar 6, 2014, 2:33 PM EST
With the 2014 season just a few days away, here is the full MLS on NBC TV schedule:
Mar 6, 2014, 1:59 PM EST
Southampton’s star man shone for England once again, as many clamber for Lallana to start this summer in Brazil:
Mar 6, 2014, 1:28 PM EST
Injured and unfit to play in the Premier League, what in the world were the Cottagers thinking shelling out a club record $20 million for damaged goods during a relegation battle?
Mar 6, 2014, 12:38 PM EST
Fortunately West Brom is playing United, who have proven themselves capable of dropping the ball against the most measly of opponents.
Jurgen Klinsmann says it would’ve been “half a miracle” if U.S. clicked vs. Ukraine, USMNT missed MLS contingent
Mar 6, 2014, 11:54 AM EST
Remember one thing before analyzing the USA’s defeat to Ukraine… half of the usual squad weren’t available for selection.
Mar 6, 2014, 10:38 AM EST
Arsenal star injured on England duty, after playing on despite suffering early injury:
Mar 6, 2014, 10:27 AM EST
Horror tackle hands Vietnam international defender Tran Dinh Dong record ban:
Mar 6, 2014, 9:40 AM EST
Super Mario set to turn up at Stamford Bridge?
Mar 6, 2014, 8:55 AM EST
Young child runs onto pitch, but instead of being escorted away… the Brazilian national team give him a moment to remember forever:
Mar 6, 2014, 7:37 AM EST
With game time dwindling with the Red Devils, Chicharito may move on:
Mar 6, 2014, 12:36 AM EST
Miguel Herrera welcomed his European-based talent back into the team on Wednesday night.
- PST Extra: Relegation in focus ahead of six-pointer in Cardiff 0
- Major League Soccer Preview: An alternate view of the 2014 regular season 0
- Premier League Power Rankings: Top four shuffle, as pivotal stretch arrives – Week 28 0
- Ranking the candidates for MLS’s next two expansion teams (after Don Garber’s Tuesday Q-and-A) 4
- MLS Season Preview: Ranking the top 10 midfielders 0
- U.S. Soccer confirms three-game send-off series ahead of 2014 World Cup 3
- Revs Notebook: Targeting Strikers, Imbongo's Reds & Fagundez's Left Foot
- Chicago Fire Players to Watch for in 2014
- FC Dallas Unveil 2014 Home Kit
- Eddie Johnson's Bumpy Road to Designated Player Status
- Adidas & Nike Unveil Hybrid Cleats to Change Soccer Forever
- Preview: Sporting KC at Seattle Sounders FC
- Chelsea Face Stiff Test When Tottenham Visit the Bridge
- Egyptian Player Banned for Using 'Sisi' Sign
- Houston Dynamo Players to Watch During the 2014 MLS Season
- Vancouver Whitecaps: Players to Watch During the 2014 MLS Season