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Abramovich investments can't save Chelsea from net loss
England - 25 February, 2008
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English Chelsea owner Roman Abramovich has made more than an initial investment in his club. The newest figures reveal he has pushed GBP 578 million into Chelsea since taking control in July 2003.
Those figures were announced as Chelsea revealed a GBP 74.8 million loss for the year ending 30 June, 2007. It was the first time the club has lost less than GBP 80 million in a year since Abramovich took control.
The club said Abramovich has put GBP 578 million into the club, though that includes the GBP 140 million he used to buy into Chelsea.
The club has hoped to break even for 2010, and officials say that still is the goal.
The wage bill increased by GBP 19 million from 2006 to 2007. Spending on transfers has decreased dramatically, as it went from GBP 126.7 two years ago to GBP 85.4 million to GBP 11.7 million for the June 2007 period.
"When a fellow puts more than £500 million into a football club of his own money, he doesn't just walk away from it," chairman Bruce Buck told the Telegraph.
The club also had sponsorship deals with Samsung and adidas to help its money pool.
Those figures were announced as Chelsea revealed a GBP 74.8 million loss for the year ending 30 June, 2007. It was the first time the club has lost less than GBP 80 million in a year since Abramovich took control.
The club said Abramovich has put GBP 578 million into the club, though that includes the GBP 140 million he used to buy into Chelsea.
The club has hoped to break even for 2010, and officials say that still is the goal.
The wage bill increased by GBP 19 million from 2006 to 2007. Spending on transfers has decreased dramatically, as it went from GBP 126.7 two years ago to GBP 85.4 million to GBP 11.7 million for the June 2007 period.
"When a fellow puts more than £500 million into a football club of his own money, he doesn't just walk away from it," chairman Bruce Buck told the Telegraph.
The club also had sponsorship deals with Samsung and adidas to help its money pool.
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