Chelsea post £36m PROFIT for 2019-20 despite coronavirus crisis thanks to Hazard and Morata sales and lowering wage bill

Chelsea post £36m PROFIT for 2019-20 despite coronavirus crisis thanks to Hazard and Morata sales and lowering wage bill

CHELSEA made a profit of £36million in the 2019-20 season despite the coronavirus pandemic, the latest figures have shown.

The footballing world took an almighty hit last season due to Covid, with many clubs even forcing players to take a pay-cut.

But Chelsea managed to make a profit of £36m thanks to a couple of huge sales and their continued work in lowering their wage bill, according to Swiss Ramble.

While the figures are encouraging, the reports claim the Blues were on course for a 'record revenue' but for Covid knocking £40m off the final figure.

The Stamford Bridge outfit were hit hard in the pocket due to the loss of matchday revenue – with games played behind closed doors – as well as sales of club merchandise.

Roman Abramovich has poured £1.3billion into the club since taking over in the summer of 2003 – £1.1bn of which has gone towards buying new players.

However, in recent seasons Chelsea have been more savvy in the transfer markets.

The club may have spent over £200million last summer on the likes of Kai Havertz, Timo Werner and Ben Chilwell, but the foundations were alreadty put in place for a mega spree.

In 2019, the Blues sold Eden Hazard to Real Madrid for a fee of £88m, rising to £150m in add-ons.

They also sold Alvaro Morata to Atletico Madrid for a staggering £58.3m in the 2019-20 season to generate the most income of any European club through player sales.

On top of that, Chelsea have been tirelessly working to lower their once sky-high wage bill.

As recently as 2015, the West Londoners had the highest wage bill in England.

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They are now down in fourth, below Manchester City, Liverpool and Manchester United on £283m a year.

In fact, the Blues shaved £2m off their annual wage bill in the 2019-20 season.

Chelsea's commercial revenue also sits at fourth in the league on £170m – the highest of any London club.

The club were also boosted by qualifying for a Champions League spot for the 2020-21 season – as well as reaching the last-16 in 2019-20 – as well as making it to the FA Cup final.

Overall, Chelsea made the third-highest profit in the Premier League, behind only Liverpool (£42m) and Newcastle (£41m).

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