Newspaper article The Evening Standard (London, England)

Chelsea Have the League's Highest Wage Bill for Eighth Year in a Row; Staggering [Pounds Sterling]191m Outlay Increases Pressure on Club as They Try to Avoid Falling Foul of New Financial Fair Play Rules. by David Smith

Newspaper article The Evening Standard (London, England)

Chelsea Have the League's Highest Wage Bill for Eighth Year in a Row; Staggering [Pounds Sterling]191m Outlay Increases Pressure on Club as They Try to Avoid Falling Foul of New Financial Fair Play Rules. by David Smith

Article excerpt

Byline: David Smith

[bar] NY coach considering applying for the Chelsea manager's job should first read a new financial report, published today, that suggests continued success in Europe is vital if the club are to avoid falling foul of UEFA's new financial fair play rules.

The pressure on Chelsea's new boss to replicate the Champions League triumph, worth "hundreds of millions" according to chief executive Ron Gourlay, will be immense after the 21st Annual Review of Football Finance -- compiled for the 2010/11 season by Deloitte -- revealed the Blues have Britain's highest club wage bill for the eighth consecutive campaign.

Chelsea's wage commitments that season were a staggering [pounds sterling]191million, which worked out at [pounds sterling]2.7m for each of the 71 points they banked on the way to second place behind Manchester United in the Premier League.

The figures are the last ones before UEFA start taking them into account for their controversial financial fair play (FFP) calculations which dictate that clubs in European competition must eventually break even.

And in light of a report that revealed the Premier League's total wage bill rose by [pounds sterling]201m to almost [pounds sterling]1.6billion, Deloitte Sports Business Group director Alan Switzer claimed Chelsea and Manchester City face the greatest challenges in conforming to the FFP rules.

He said: "Chelsea and Manchester City are the clubs which have recorded the biggest losses so they are the two which have the most to do."

Dan Jones, partner in the Sports Business Group at Deloitte, added: "The clubs know the rules are coming and they know that UEFA are very serious about them. I'm not going to second guess what is going on in each of the boardrooms of each of the clubs but this is when they have to get the books in order such that they comply.

"Obviously, the more successful you are on the pitch the more revenue you generate and therefore the better chance you have of balancing your books. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.