Chelsea were one of only three Premier League clubs to endure a decline in revenue during their title-winning 2014-15 campaign, Deloitte's latest review of football finance has revealed.
As revenue across the division surpassed £3 billion, Chelsea's revenue actually decreased by two percent from £324.4 million in 2013-14 to £319.5m in 2014-15. Manchester United suffered an even larger drop of nine percent, due in large part to a season outside the Champions League.
Those figures may cause concern at Stamford Bridge, given that Chelsea will be without European competition altogether next season after mounting the worst title defence in Premier League history under Jose Mourinho this term.
The report shows that Chelsea's wage bill of £217m was the highest in the division in their title-winning campaign, though there is an expectation that this figure will fall in 2015-16 due to a lack of bonuses paid out to the squad for winning the Premier League the previous season.
Premier League clubs' gross player transfer spending in summer 2016 may exceed £1 billion https://t.co/WYnIUw0Qsd #FootballFinance
- Deloitte UK (@DeloitteUK) June 2, 2016
Matchday revenue also undermined Chelsea's overall earnings, with income of around £70m only the seventh-highest in the Premier League. Plans to redevelop Stamford Bridge into a 60,000-seater stadium were submitted in December, but the project is still in its early stages.
Chelsea announced a £23.1m loss in their annual financial results in November, but remain confident in their ability to remain both competitive on the pitch and compliant with UEFA's financial fair play regulations.
Last season, Chelsea's £40m-a-year kit deal with Yokohama Rubber came into effect, while Thai energy drink company Carabao have agreed to pay in the region of £10m-a-year to sponsor the club's training wear from next season.
Chelsea also confirmed last month that they have agreed to terminate their agreement with kit supplier Adidas at the end of next season -- six years ahead of schedule -- amid reports that they are close to tying up a mammoth £60m-a-year deal with rivals Nike.