Chelsea FC painted red. The Premier League club finished the 2021-2022 season with a net loss of 212.3 million pounds (242.2 million euros), up 38.4% from what it was in 2020-2021 derived from the sanctions imposed on its former owner, Roman Abramovich, due to the Russian invasion of Ukraine.
Despite the restrictions imposed on the club, The turnover increased by 10.7% to reach 481.3 million pounds (€547.3m), largely driven by increased commercial and matchday revenue due to returning fans on matchdays.
The club said in a statement that audiovisual revenues decreased compared to the previous year due to lower distributions of the Champions League and the impact of the pandemic from the 2019-2020 season to the 2020-2021 financial year. Commercial income rose to 177.1 million pounds (201.5 million euros), as the club benefited from a net increase in sponsorship income from new contracts and renewals of existing partners.
Chelsea FC brought in £177.1 million in sponsorship
“Higher revenues were offset by higher operating expenses, including costs for non-matches and match days resulting from the resumption of operations and increased personnel costs.”
He stressed that “the results of the year were affected by the sanctions imposed on the former owner of the club (Roman Abramovich) on March 10, 2022.” As a result of the sanctions, The club was forced to operate within the constraints of a special license issued by the UK government; He added that these restrictions were in effect until the sale of the club ended on May 30, 2022.
During this period the club was restricted in a number of areas including, but not limited to, its ability to sell match, season and sale tickets. commerceaccepting event bookings, as well as signing contracts with players and commercial sponsorship partners, which together resulted in extraordinary expenses and loss of revenue.
In addition, some of these restrictions are also expected to have an impact on the financial statements in subsequent years due to the long-term impact of the restrictions on entering into new contractual agreements. Towards the end of the sanctions period, the club was allowed to sell some match day tickets and the Premier League committed to donating all proceeds from these sales to charity. Restrictions have been lifted following the change of ownership and all operations have now resumed.
The club invested 118 million pounds (134.2 million euros) in the first team during the 2021-2022 financial year., including renegotiating existing player contracts. In addition, the club made a profit from the exchange of players amounting to 123.2 million (140.1 million euros) from Tammy Abraham to Roma, Marc Guehi to Crystal Palace, Fikayo Tomori to Milan and Kurt Zouma to West Ham.
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