BrandArena: Chelsea posts record profit under Abramovich

Friday 14 November 2014

Chelsea posts record profit under Abramovich

English Premier League club Chelsea has announced a profit of £18.4m ($29m) for the 12 months through to June 30.

It was the largest surplus recorded by the club since Russian billionaire Roman Abramovich became the owner of the club 11 years ago.

Chelsea posted a loss of £49.4m in the previous year.

The West London club generated the profit on the back of record revenue of £319.8m – up from £255.8m the previous year. However, the results did not include the signings of Cesc Fabregas and Diego Costa for a combined total of more than £60m in the summer.

“We financed player purchases from sales as the squad for this current season was shaped and our philosophy since Mr Abramovich acquired the club in 2003 has been to build upon success on the pitch,” chairman Bruce Buck said. “That is evident in the partnerships we signed and in our fan base growth which contributed to the new record turnover figure and the profit made.

“We have done all of this at the same time as creating one of the world's leading football community programmes through the Chelsea Foundation. Going forward we have ambitious plans to build a pioneering global commercial programme, partnering with innovative and market-leading organisations from around the world. In the era of Financial Fair Play, we must progress commercially to continue the circle of success to invest in the team and get results.”

Chelsea are unbeaten so far this season and have a four- point lead over Southampton at the top of the Premier League table.

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