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Foot: Chelsea announces a loss of nearly 120 million euros - France 24

2019-12-31T22:31:35.309Z

Foot: Chelsea announces loss of nearly 120 million euros



London (AFP)

Chelsea recorded a loss of almost 100 million pounds (118 million euros) for the financial year ended June 30, according to financial results released Tuesday by the London football club.

Revenues increased slightly to £ 446.7 million (€ 523 million). But the lack of participation in 2018-2019 in the Champions League, record spending to acquire players like Kepa Arrizabalaga, Christian Pulisic, Mateo Kovacic and Jorginho, or the repeated changes of coach have widened the deficit of the club, which is precisely 96.6 million pounds.

"Constant revenue growth and prudent financial management in recent seasons have enabled the club to make significant investments in sport while meeting UEFA's financial fair play criteria," said Chelsea president Bruce Buck in a press release published on the club website.

In force since 2011, financial fair play provides that European clubs cannot exceed the threshold of 30 million euros in cumulative losses over three years.

"This contributed to a new Europa League victory at the end of the 2018-2019 season and to the return to the highest European level," added the Chelsea boss, confident in the club's ability to record new "successes as well on that off the field while maintaining its financial stability in the years to come. "

Chelsea are in 4th place in the Premier League, the last qualifier for the lucrative Champions League, after 20 days and qualified for the knockout stages of the C1 where they will face Bayern Munich in February-March.

© 2019 AFP

Source: france24

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