Chelsea FC plc today announced our annual financial results for the year ended 30 June 2016 with the club’s highest turnover figure recorded and a profit of £4.7m before exceptional costs.
The group turnover figure of £329.1m was up five per cent on last year’s figure of £314.3m, generating a £4.7m profit before exceptional costs. The club incurred exceptional costs of £75.3m, a significant part of that as a result of a compensation fee payable for early termination of the club’s contract with adidas, resulting in a net loss for the year of £70.6m after exceptional costs.
Since the financial year end we have announced a new technical partnership with Nike, the largest commercial deal in the club’s history which will impact our results from 1st July 2017.
With ticket prices at Stamford Bridge frozen at 2011/12 levels and the stadium selling out for our games, matchday revenues remained level. Commercial revenues grew strongly on the back of our new shirt partnership with Yokohama Tyres, at the time our largest commercial deal. Broadcasting revenues also increased as a result of a new TV deal benefitting clubs who participated in the Champions League last season.
We are expecting 2016/17 revenues to reach another record high for the club despite our absence from the Champions League this season. The main driver for this will be a new Premier League TV contract which has now commenced.
Chairman Bruce Buck said: ‘The fact Chelsea Football Club recorded our highest revenues in a season when on-pitch performance was disappointing is a credit to our hard-working, dedicated staff and the robust business they have helped build.
‘It has long been our aim for the business to be stable independent of the team’s results and we continue to reinforce that.’
Since the financial year end we have announced a new technical partnership with Nike, the largest commercial deal in the club’s history which will impact our results from 1st July 2017.
With ticket prices at Stamford Bridge frozen at 2011/12 levels and the stadium selling out for our games, matchday revenues remained level. Commercial revenues grew strongly on the back of our new shirt partnership with Yokohama Tyres, at the time our largest commercial deal. Broadcasting revenues also increased as a result of a new TV deal benefitting clubs who participated in the Champions League last season.
We are expecting 2016/17 revenues to reach another record high for the club despite our absence from the Champions League this season. The main driver for this will be a new Premier League TV contract which has now commenced.
Chairman Bruce Buck said: ‘The fact Chelsea Football Club recorded our highest revenues in a season when on-pitch performance was disappointing is a credit to our hard-working, dedicated staff and the robust business they have helped build.
‘It has long been our aim for the business to be stable independent of the team’s results and we continue to reinforce that.’
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