The Board

[OhForAGreavsie 5,776]

4 hours ago, Jype said:

I have a feeling Emenalo's departure had something to do with the transfer ban situation.Him leaving came so out of the blue and it wasn't long after that it was reported the club was being investigated by FIFA for the rule breaches. My theory is that behind the scenes Emenalo took the blame and resigned as a result. Could be wrong though. 

The club's position is that it was punished for operating in exactly the same way as many other clubs who were not punished. This is still being considered because the FA has appealed against their sanction and, if that is overturned, then there is no way CAS could avoid also overturning Chelsea's. The upshot of all of this is that Chelsea do not believe they did anything wrong, the FA do not believe Chelsea did anything wrong, and the CAS decision on our appeal went so decidedly in our favour that maybe they don't really think Chelsea did anything wrong either.

If we believed all along that we operated within the rules, then there would have been nothing to blame Michael Emenalo for.

[Jase 43,479]

More details on the finances in this tweet thread...

 

[Milan 17,835]

There was a big interview with Petr Cech for the Czech press a few days ago, here are some most interesting bits -

On last season - 'We met the primary target which was the Champions League qualification. The FA Cup final defeat to Arsenal hit us hard, though. Finishing the season with a trophy would be a different story. However, we managed to stand the test in difficult moments and laid the foundations for the next season. We will get only stronger and believe we will get much closer to the positions where we actually want to be.'

On his new duties - 'It is such a huge difference, it is no longer just your training session. The academy, scouting system, first team, loan system... I had to make sure I can work and co-operate in multiple levels. It is taking much more time than when I was just a goalkeeper.'

On dealing with players from other clubs - 'Being a former player myself, I understand other players' thinking and that helps a lot when I talk to Chelsea transfer targets. They are aware of my past achievements so it is easier to convince them that Chelsea are the right choice for their next career step.'

On big money transfers before the season - 'Under some certain circumstances, some big money transfers may happen. However, there will be rather player swaps and loans. The current situation is highly unpredictable when it comes to financial impacts on clubs.'

On Kepa - 'Without any doubt, Kepa did not have a good season. He was a big money signing and has a long-term contract, though. The club still believe in him. There will be new signings for sure, maybe even between the sticks. There are ongoing discussions in this matter. Nobody at the club is writting him off, we all are still hoping he will have a big future. The transfer window is open until October this year so there will be a lot of changes when the leagues are already underway.'

On financial impacts on the club itself - 'Chelsea are on of the few clubs that did not fire a single employee and paid everyone 100 %. That was the owner's decision. He wanted to help every single member of the organization in this difficult period of time and wanted everyone to feel safe. There was a financial loss obviously, but we believe we will recover. It was a wonderful gesture that was appreciated by the employees and I believe they will appreciate it even more later on. It was also a great image for the club.'

On fans returning to stadiums - 'While maintaining certain conditions, I full support the idea of fans returning to the stadiums. They are already allowed to go to pubs or shopping malls so I see no reason why stadiums should be different. They are also in the open space.'

[NikkiCFC 7,595]

@Milan Thanks for this interview!

[Jase 43,479]

A detailed explanation on our summer spending and FFP...

 

[Fernando 6,376]

Club is very smart. 

[Puliiszola 519]

1 hour ago, Fernando said:

Club is very smart. 

If you believe some on here, they can do a better job.

[Alabama 1,992]

Let them delve into City spending and finances to unveil the corruption  in that club instead of monitoring Chelsea finance..

[Puliiszola 519]

On 8/31/2020 at 3:24 PM, Jason said:

A detailed explanation on our summer spending and FFP...

 

Our operating costs are a massive worry.  And since almost all of the operating costs are either player amortization or wages, we need to bring those down. I think the next summer will be massively decisive. 

In 2022, we have

Azpi

Drinkwater

Rudiger

Zappacosta

Musonda

Emerson

Bakayoko

Andreas

Baker

Baba Rahman

Miazga

Michy

Moses

I mean we will need to sell them next summer and get their values off the books and just break even on their sales.

Hopefully we don't again get into a habit of buying such dregs. Squad players should be youth players. It's the first teamers that we should be always going for.

 

[milka 3,308]

Amazing 

 

As part of the

@ChelseaFC

Stadium Tour and Museum enhancements for 2020, Designwerk have created a new home and dedicated "Trophy Room" at Stamford Bridge for all of the silverware Chelsea FC’s Men’s, Women’s and Academy teams have won since 1905.

 

[Jase 43,479]

Matt Law on Emenalo and an interesting story on AVB towards the end of the video.

[Fernando 6,376]

Interesting stuff. 

It is true, whoever had the vision to scout and buy into Belgium in that time did amazing. 

Too bad we screw up everything because of Mourinho and company. 

[Yeboii 1,844]

6 hours ago, Fernando said:

Interesting stuff. 

It is true, whoever had the vision to scout and buy into Belgium in that time did amazing. 

Too bad we screw up everything because of Mourinho and company. 

Seems like we are now trying out the Scandinavian youth with plenty from Finland especially.

[Jase 43,479]

 

[Jase 43,479]

Chelsea FC plc today announced our annual financial results for the year ended 30 June 2020

https://www.chelseafc.com/en/news/2020/12/31/chelsea-fc-financial-results?cardIndex=0-0

The group turnover figure fell to £407.4m from £446.7m the previous year due to the impact of the COVID-19 pandemic which impacted all revenue streams of the Group. Despite the fall in revenue, the Group recorded a profit of £32.5m for the year ended 30 June 2020, reflecting the Club’s qualification to the Champions League and profits made on a number of player sales during the 2020 financial year. 

The Club continues to comply with UEFA’s break-even criteria under the Financial Fair Play (FFP) regulations.

The impact of COVID-19 on revenue was partially offset by reduced matchday costs due to the postponement of matches in March 2020. However, the club elected not to make use of the government job retention scheme, despite paying the wages of full time and temporary staff who were not required to work, throughout the 2020 financial year.

Without the COVID-19 pandemic and the consequent suspension of normal football activity in March, club projections show a record profit and record turnover would have been achieved, which would have represented an increase in revenue for a fifth year in succession.

Broadcasting and matchday revenues decreased by £17.6m and £12.2m respectively, primarily as a result of the suspension of the 2019/20 season in March 2020. This resulted in the final four home league games of the season and the conclusion of both The FA Cup and Champions League taking place behind closed doors, the majority in the 2021 financial year. There was a complete loss of ticket and other match day revenue for the affected games, due to rebates or credits being provided to supporters. In addition, rebates have been recognised which are due to domestic and overseas broadcasters, this has been proportioned over the number of matches played in season 19/20, therefore an element has been deferred to the 2021 financial year.

Revenue from commercial activities fell by £9.5m, driven by the effects of the closure of non-match day activities in March 2020, as well as decreased pre-season revenue and a decrease in player loan fee income. This was offset by a net increase in sponsorship revenue from new and existing partner renewals.

The Club invested £93.7m in the playing squad during the 2020 financial year, including existing player contract renegotiations.

Chairman Bruce Buck 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 succession.

'Despite the impact of COVID, the revenue streams remained strong, our team is developing on the pitch and the Club is in a good position to continue to grow when football is able to operate as it did previously, a time we are all looking forward to.’

[Vesper 27,361]

22 hours ago, Jason said:

Chelsea FC plc today announced our annual financial results for the year ended 30 June 2020

https://www.chelseafc.com/en/news/2020/12/31/chelsea-fc-financial-results?cardIndex=0-0

The group turnover figure fell to £407.4m from £446.7m the previous year due to the impact of the COVID-19 pandemic which impacted all revenue streams of the Group. Despite the fall in revenue, the Group recorded a profit of £32.5m for the year ended 30 June 2020, reflecting the Club’s qualification to the Champions League and profits made on a number of player sales during the 2020 financial year. 

The Club continues to comply with UEFA’s break-even criteria under the Financial Fair Play (FFP) regulations.

The impact of COVID-19 on revenue was partially offset by reduced matchday costs due to the postponement of matches in March 2020. However, the club elected not to make use of the government job retention scheme, despite paying the wages of full time and temporary staff who were not required to work, throughout the 2020 financial year.

Without the COVID-19 pandemic and the consequent suspension of normal football activity in March, club projections show a record profit and record turnover would have been achieved, which would have represented an increase in revenue for a fifth year in succession.

Broadcasting and matchday revenues decreased by £17.6m and £12.2m respectively, primarily as a result of the suspension of the 2019/20 season in March 2020. This resulted in the final four home league games of the season and the conclusion of both The FA Cup and Champions League taking place behind closed doors, the majority in the 2021 financial year. There was a complete loss of ticket and other match day revenue for the affected games, due to rebates or credits being provided to supporters. In addition, rebates have been recognised which are due to domestic and overseas broadcasters, this has been proportioned over the number of matches played in season 19/20, therefore an element has been deferred to the 2021 financial year.

Revenue from commercial activities fell by £9.5m, driven by the effects of the closure of non-match day activities in March 2020, as well as decreased pre-season revenue and a decrease in player loan fee income. This was offset by a net increase in sponsorship revenue from new and existing partner renewals.

The Club invested £93.7m in the playing squad during the 2020 financial year, including existing player contract renegotiations.

Chairman Bruce Buck 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 succession.

'Despite the impact of COVID, the revenue streams remained strong, our team is developing on the pitch and the Club is in a good position to continue to grow when football is able to operate as it did previously, a time we are all looking forward to.’

outfuckingstanding!

[Jase 43,479]

A very long Twitter thread on our 2019/20 financial results (click on the tweet to see more)...

 

[Vesper 27,361]

Chelsea Foundation's report 2019/20

Chelsea FOUNDATION ANNUAL REPORT PUBLISHED

 

The Chelsea Foundation’s annual report for the 2019/20 season is now available to view online.

The Blues have one of world sport’s most comprehensive community programmes, all delivered by the Chelsea Foundation, and the new report details all the good work the club’s own charity conducted last season.

The Chelsea Foundation uses the power of football to motivate, educate, inspire, and to support communities and individuals both at home and around the world.

From our charitable and community activities, to our anti-discrimination projects and continued support for former players, the Chelsea Foundation is one of the world’s leading football social responsibility programmes.

On top of our outstanding football development programmes, the Foundation works on a broad range of initiatives focusing on education, employment, social deprivation, crime reduction and much more.

The Foundation’s ongoing work in the community continued as the world faced unprecedented times due to Covid-19.
During the global pandemic, the Chelsea Foundation have been at the forefront of delivery during lockdown, developing a range of innovative programmes to provide education, activities, and wellbeing during these challenging times.
You can learn more about the club’s full Covid response here

As we continue to help those most in need, the Foundation has called on fans to help support our wider communities and increase the number of people helped. You can donate to the Chelsea Foundation programme here

You can now view and download our 2019/20 annual report, as well as previous reports covering all of our corporate social responsibility initiatives since 2005, by visiting the Foundation Annual Reports section.

https://www.chelseafc.com/en/foundation/annual-report