Kieran Maguire: Chelsea have ‘spectacular’ new target amid £565m reveal
Chelsea could eventually hit £1billion in revenue – but not until the end of the decade.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the Blues’ “spectacular” new turnover target.
As quoted by football.london last Thursday (13 October), Chelsea co-owner Jose E. Feliciano revealed that he believes the club are capable of hitting £1bn in annual income.
If the new Clearlake Capital regime achieve their goal, it will represent a £565.1million upswing on the £434.9m they earned in 2020-21, the last financial year on record.
Maguire argues that the ambition is achievable but only with time and perhaps a long-awaited redevelopment of Stamford Bridge.
“The target is ambitious,” he told Football Insider’s Adam Williams.
“It is feasible, but not in the short term They would have to double the amount of money they currently earn. Clearly, they can’t do that in a 41,000-capacity stadium.
“There is scope to increase that if they decide to go for a land purchase close to the ground. They would then have to target the tourist and hospitality markets. That would only make a relatively small increase in any case.
“I think the new owners have seen opportunities like NFTs and the metaverse. They see bringing football to the masses outside the UK as the main driver of revenues.
“Even so, it would be a very spectacular amount of growth. I think they would be very pleased if they managed to get there before the end of the decade.“
In other news, insider suggests “behind-closed-doors” Reece James return after Chelsea twist.