Chelsea’s financial statement 2016 was definitely affected by the decision of the British club to breach the contract signed with Adidas. The agreement was going to last for another 6 seasons but Roman Abramovich, Chelsea’s Russian owner, decided to take a different path. The breach of the contract with Adidas has indeed generated an increase of costs of 75.3 million-pounds (€90 million). Chelsea’s financial statement 2016 budget highlighted a net result of -70.6 million-pounds (€-85 million).
Although those reported above seem to be very alarming signals we have to mention that in 2016 Abramovich’s club achieved its highest turnover in history: 329.1 million-pounds (about €390 million.) This is a 5% increase compared to the €314.3 recorded last season. Also the contract that Chelsea has signed with Nike is going to be very remunerative as well and it will have a great impact on the next year’s financial statement.
Bruce Buck, Chelsea’s president, expressed his happiness for the actual financial situation of the club: “The fact that we increased our revenues in a trouble season in which we didn’t reached the Champions League is definitely a very positive signal for us. It’s our goal to be financially solid independently from the results on the pitch”.