European clubs have always been on the hit list of financial watchdogs who want to streamline high spending clubs and bring them on a level playing field with the help of Financial Fair Play policies. Chelsea, the high profile English club, has recently reported to book a loss around £49.4m but could somehow manage to increase their group turnover to £255.8m on YoY basis. There was a £1.4m profit in the last year for similar a period and if we combine previous year’s profit with that of current year’s turnover, they were on the bank of FFP barrier, but fortunately, according to club’s financial experts, they have successfully passed financial rules being set by the UEFA. At the moment, this is not a big problem for Jose Mourinho coz he can successfully manage his recent buying, but upcoming January transfer window will be the biggest check on their balance sheet and if there is any space for further addition. Chelsea is having a dream run in domestic league this year and is among the top three for quite some time, hence they are equally probable to win the title among other hot favorites; hence Mourinho would like to add some more strength into his army this month.
Club chief executive Ron Gourlay stated about YoY rise in their turnover and said, “For Chelsea FC to achieve a record level of turnover, despite our first group-stage elimination from the Champions League, shows we have structured our business and are growing in the correct way for long-term stability. Our philosophy is that we build upon success on the pitch – and although in these financial results we haven’t repeated the sizeable profits made the previous year from player transfers, we believe the age profile of the existing squad means we will benefit from that investment for many years to come.”
While everyone is busy discussing Chelsea’s legal ability to spend more on new players, Blues have completed another deal and add one more teenager, 18-year-old Bertrand Traore, on a four year deal; he has been on trial and played there games as trialist last summer. It would be interesting to see how Chelsea accommodate his signing amount into their balance sheet, but at least, for the moment, new joining is happy to have an official contract in hand, he shared his exaggeration and said, “It was a good experience with all the senior players and I learned a lot from them. I was very proud, so it was a dream for me to be there every day and playing games.”