Chelsea’s turnover declined by almost £40million in 2019-20 owing to coronavirus, according to their full accounts for 2019-20.
The West London club made a pre-tax profit of £42.5million but, like all football clubs, were significantly impacted by the pandemic with matchday, commercial and broadcast revenue all suffering severe reductions.
Yet they remain in a strong financial position thanks to owner Roman Abramovich and would have been on track to post record profits had it not been for the global health crisis.
Here are some of the key takeaways from what has been published on Companies House.
The overall picture
The headline is that the pandemic had a significant impact on all revenue streams – and the knock-on effect will be even greater when next season’s accounts are released.
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Turnover fell from £446.7million to £407.4million but pre-pandemic projections suggested a record profit.
Broadcasting revenue fell by £17.6million due to the pandemic, while matchdays behind closed doors and the three-month break led to a £12.2million loss. Their commercial income fell by £9.5million.
With the accounts only dated to the end of June, the impact on turnover may be even more pronounced in next year’s figures as the matchday revenue stream in particular still impacted.
Bruce Buck, the chairman, said: “In common with many, many businesses across the globe, the pandemic has had a significant impact on Chelsea’s income but it is a sign of the strength and stability of our financial operation that the company was still able to post a profit in the past financial year.
“This was done while continuing to invest in our playing staff and indeed had normal football not halted in March, projections show a record profit and record turnover would have been achieved. That would have represented an increase in revenue for a fifth year in…