Chelsea have announced a profit of UK£32.5 million (US$44.1 million) in their latest set of financial results, reports, www.sportspromedia.com/.
The impact of the Covid-19 pandemic saw overall turnover for the Premier League club fall from UK£446.7 million (US$607 million) to £407.4 million (US$553.5 million) for the year ended 30th June 2020.
Nevertheless, qualification for the Uefa Champions League and surplus made 'on a number of player sales' helped the west London club post a substantial profit.
The club also continue 'to comply with Uefa's break-even criteria under the Financial Fair Play (FFP) regulations'.
Broadcasting and matchday revenues decreased by UK£17.6 million (US$23.9 million) and UK£12.2 million (US$16.5 million) respectively, which was primarily as a result of the suspension of the season from March 2020.
Reduced matchday costs because of games being postponed helped partially offset the losses from the pandemic.
Commercial revenue was also down by UK£9.5 million (US$12.9 million), with non-matchday activities in and around Stamford Bridge also closed because of the pandemic.
Chelsea also invested UK£93.7 million (US$127.3 million) in the squad during the 2020 financial year, which included existing player contract renegotiations.
However, the big-money summer signings of Kai Havertz, Timo Werner, Ben Chilwell and Edouard Mendy are not covered in the 2020 results as they all went through after 30th June.
