A return to Champions League football and prominent player sales allowed Premier League giants Chelsea to record a record £443.4 million ($562 million) turnover and £62 million profit for the 2017/18 season, the club announced on Monday. Revenue rose 22.7 per cent on the previous season thanks in large part to a profit on player sales of £113 million and a run to the Champions League last 16 which boosted TV income by £47.1 million. Commercial revenue was up £32 million, helped by a new Nike kit deal worth a reported £60 million a year, while matchday revenues also increased by £8.4 million. However, the accounts do not include the severance pay for Antonio Conte or his coaching staff. Conte was sacked in July after the Blues’ finished fifth and failed to qualify for this season’s Champions League.

Source: Punch December 31, 2018 18:11 UTC