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Context of 'February 13, 2009: Chelsea Announces £65.7m Loss for Previous Season'

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Chelsea FC owner Ken Bates agrees to sell the club to Russian oil and aluminum mogul Roman Abramovich for £140m. £80m of the money will be spent paying down debts Chelsea has recently accrued. £59.3m will be used to buy shares in the parent company, Chelsea Village, which are valued at a mere 35p each. Bates bought the club for £1 in 1982. The deal is the biggest in British football history. A statement issued for Abramovich pledges that he will invest in the team. [BBC, 7/2/2003]

Entity Tags: Chelsea F.C., Roman Abramovich, Ken Bates

Timeline Tags: Football Business and Politics

Chelsea announces the club lost £80.2m in the 2005-06 season. The loss is far less than the season before, when it was around £140m, but is still the third largest loss in the history of English football. Total losses over the three years since Roman Abramovich bought the club now exceed £300m. [Reuters, 2/19/2007] Chelsea turned over €221m in the 2005-06 season (see February 2007).

Entity Tags: Chelsea F.C.

Timeline Tags: Football Business and Politics

Deloitte publishes its Football Money League rankings for the 2007-2008 season. The rankings of the top 20 European clubs and their football earnings are:
(1) Real Madrid (€365.8m)
(2) Manchester United (€324.8m)
(3) FC Barcelona (€308.8m)
(4) Bayern Munich (€295.3m)
(5) Chelsea (€268.9m)
(6) Arsenal (€264.4m)
(7) Liverpool (€210.9m)
(8) AC Milan (€209.5m)
(9) AS Roma (€175.4m)
(10) Internazionale (€172.9m)
(11) Juventus (€167.5m)
(12) Olympique Lyonnais (€155.7m)
(13) Schalke 04 (€148.4m)
(14) Tottenham Hotspur (€145.0m)
(15) Hamburger SV (€127.9m)
(16) Olympique de Marseille (€126.8m)
(17) Newcastle United (€125.6m)
(18) VfB Stuttgart (€111.5m)
(19) Fenerbahce (€111.3m)
(20) Manchester City (€104.0m) [Deloitte, 2/13/2009]

Entity Tags: Real Madrid Club de Fútbol, Bayern Munich, Olympique de Marseille, Fussball-Club Gelsenkirchen-Schalke 04, Tottenham Hotspur F.C., VfB Stuttgart, Newcastle United F.C., FC Barcelona, Arsenal F.C., Milan, Roma, Manchester City F.C., Fenerbahce S.K., Deloitte, Manchester United F.C., Hamburg SV, Chelsea F.C., Juventus, Liverpool F.C., Olympique Lyonnais, Internazionale

Timeline Tags: Football Business and Politics

Chelsea announces that the club lost £65.7m in the 2007-08 football season, down from the £74m lost the previous season. The club generated revenues of €268.9m in the 2007-2008 season (see February 2009). Chelsea chief executive Peter Kenyon says, “There is no doubt that the positive upward trends of turnover and the continued reduction in losses shows that Chelsea is building a strong business base to build on in what will be challenging times.” [BBC, 2/13/2009]

Entity Tags: Chelsea F.C., Peter Kenyon

Timeline Tags: Football Business and Politics

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