Football: Soccer-Chelsea post 153.4 million pounds loss for financial year ending in June


LONDON (Reuters) – Chelsea recorded a loss of 153.4 million pounds ($207.34 million) for the year ending June 30 2021, with the Premier League membership saying that the COVID-19 pandemic had a “extreme affect” on their capability to generate revenues.

Chelsea’s turnover elevated to 434.9 million pounds from 407.4 million the earlier year after their Champions League triumph and attributable to quantities being carried ahead from the extension of the 2019-20 season into the 2020-21 financial year.

Their matchday revenue fell to 7.7 million pounds from 54.5 million final year, whereas business income dropped from 170.4 million pounds final year to 153.6 million as many of the Premier League video games have been held behind closed doorways attributable to COVID guidelines.

“Had it not been for the match-day affect of the pandemic, we’re assured we might have achieved document turnover this year,” chairman Bruce Buck stated in an announcement

“The power, stability and long-term strategy of our financial operation means our income streams stay robust, nevertheless COVID-19 will proceed to have an effect going into the subsequent financial year as our business operations resume regular actions.”

Chelsea stated the one income stream that has proven a year-on-year enhance is broadcasting income which has jumped from 182.5 million pounds to 273.6 million.

The London membership added that they invested 220.8 million pounds in the taking part in squad through the 2020-21 financial year, together with present participant contract renegotiations.

Thomas Tuchel’s crew are second in the desk on 42 factors after 20 matches, eight factors behind Manchester City. They host third-placed Liverpool, who’ve a sport in hand, on Sunday.

($1 = 0.7399 pounds)

(Reporting by Manasi Pathak in Bengaluru; Editing by Ken Ferris)

Source link