Cosmo
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Registered: 29th Mar 01
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Well, accoring to Sky Sports reducing the amount they lost this season from £80.2m last year to £74.8m this year is progress  For me, increasing turnover by 25% (£152.8m to £190.5m) and only decreasing losses by 7% is not progress. Nice positive spin they appear to have taken with it though. Same goes for the next headline they use of 'Blues on track to break-even by 2009/10' where as Kenyon is a little more realistic with saying it is 'ambitious' and they are determined to meet it, or if not 'as close as possible' so £50m losses that year will be about right then.
Chelsea FC plc announced major improvements in its financial figures on Thursday, despite again recording huge losses.
Losses in the last financial year were reduced by seven per cent to £74.8m from £80.2m (2005/6) as group turnover up went up by 25 per cent from £152.8m (2005/6) to £190.5m, and gross turnover was £223.3 million. It is the second successive season for record group turnover and reduced losses.
Wages and salaries as a percentage of turnover were also reduced by five per cent to 71 per cent from the previous year.
In other positive news, independent research by TNS found 90 million 'core fans' globally, and, following the end of the financial year, the club cleared its last remaining external debt.
These improvements off the pitch come alongside continuing success on the field, with the side winning the FA and Carling Cups, as well as coming second in the Premier League and reaching the semi-finals of the UEFA Champions League.
Welcoming the financial figures, Chelsea FC chief executive Peter Kenyon told the club's official website: "These figures once again demonstrate that Chelsea is growing in strength as a business and as a club.
Delighted
"I am delighted there has been such large increases in the major income streams. This has all been underpinned by our fundamental aim, success on the field, and this season we are looking to build on that again.
"Our long term target of operating profit break even by 2009/10 remains ambitious but we are determined to meet it or get as close as we can.
"In the meantime we have made good on our pledges of last year, hitting all of our aims. We have expanded globally as a club, we have reduced our salaries as percentage of turnover, we have continued to be successful on the field, we have increased sponsorship revenue and we continue to invest in our academy and reduce our reliance on transfers.
"With the company also being external debt free and our ownership clearly demonstrating continuing commitment to the long term, I am very confident about the future on a football and business level."
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Danny P
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Registered: 20th Nov 02
Location: Cleckheaton, West Yorkshire
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Prawn Sarnies must be flying out
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Tom
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Registered: 3rd Apr 02
Location: Wirral, Merseyside
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TNS - worked with them  most interesting part of the thread for me
Fuck chelsea hope they get worse again and then abramovic fucks off
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Danny P
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Registered: 20th Nov 02
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Talking to a Chelsea fan in't pub before our game last week and apparently Roman has put aside about a Billion£ to make Chelsea safe should he ever fuck off.
Not sure how true that is mind 
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Cosmo
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Registered: 29th Mar 01
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A billion, FPMSL
Pure and utter fantasy land he was living in.
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strick206
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Registered: 12th Apr 07
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A successful business man would NEVER leave 1 billion to a company he was leaving
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Cosmo
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Registered: 29th Mar 01
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What even more laughable is he refused Mourinho money to splash some big cash - yet now he is setting aside a billion
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Danny P
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quote:
Originally posted by Cosmo
A billion, FPMSL
Pure and utter fantasy land he was living in.
I did try to advise him he was living in a fantasy world, but he was adament.
Think he'd had a couple of shandies TBH
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Tom
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Registered: 3rd Apr 02
Location: Wirral, Merseyside
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A billion ahhhhhaaahahahahahahaha what a clown
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Cosmo
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Registered: 29th Mar 01
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 dont say that about clowns
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strick206
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Registered: 12th Apr 07
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was it corsadee? 
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Danny P
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quote:
Originally posted by strick206
was it corsadee?
Nah, he was actually going to the game
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RyanSxi
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Registered: 26th Jul 06
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saw this on ssn this morning, knew at that very moment....there would be a thread by either cosmo or marc on cs.
woooohooo 
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Cosmo
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Registered: 29th Mar 01
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Their turnover is very very impressive considering a few years ago their fanbase wasnt so large. The commercial work they have done (although is a total sellout like United) is topclass, and they certainly dont mind ripping off their fans seems they only have a small capacity stadium.
What made me post it was the hugely positive spin SSN decided to give it, even though if you look at the figures having £70m+ losses and saying it is progress is just laughable.
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RyanSxi
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Registered: 26th Jul 06
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yeh i musy admit, SSN made it sound like they were doing really well
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Marc
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Registered: 11th Aug 02
Location: York
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£1 billion 
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Robbo
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Registered: 6th Aug 02
Location: London
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Turnover very impressive altho as said, doen via ripping off fans/selling ouit totally!
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Cosmo
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Registered: 29th Mar 01
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I see Arsenal released some decent looking figures for the 1st half of this financial year too Robbo 
Although I liked how the BBC decided to remove any mention of the fact your debt has risen to over £300m now
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Robbo
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Registered: 6th Aug 02
Location: London
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Yes very good figures Down on previous year due to property exceptionals but pretty good all the saem... that said ticket prices are ludicrous!
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Cosmo
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Registered: 29th Mar 01
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Whats the reasoning behind the debt increase - never really expected to see that as its not like your lot regularly splash the cash.
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Cosmo
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Registered: 29th Mar 01
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Found the figures...£268.2 million at 31st May 2007 to £307.1 million at 30th November 2007. Thats a bigger increase than I thought actually.
You know why?
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Robbo
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Registered: 6th Aug 02
Location: London
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Debt re-structuring I think, + less unfavourable interest rates maye?
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Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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£40m though
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