Dr Dan Plumley

Mon 17 October 2022 18:12, UK

Chelsea will need to rip up the rulebook and focus on growing non-traditional income streams if they are to meet their ambitious £1billion revenue target.

That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the Blues’ plans to grow turnover from the £490million they recorded in 2020-21, the last financial year on record.

As quoted by football.london last Thursday (13 October), new Chelsea co-owner Jose E. Feliciano revealed that the new Clearlake Capital regime believes they can hit 10 figures in terms of annual turnover.

That would represent a world record, beating Barcelona’s previous high of £894m.

But Plumley insists that the West Londoners will have to think outside the box to hit the lofty target.

“They are not going to get there through traditional means,” the Sheffield Hallam University expert told Football Insider’s Adam Williams.

“It’s over double what they earn at the moment. If you look at where that money comes from, it’s broadcasting, matchday and commercial.

“Broadcasting is fixed for three years and it would need phenomenal growth to hit those numbers. That’s outside the club’s control anyway.

“Even if you boost capacity at Stamford Bridge, you aren’t going to reach those numbers. Commercial, there is room for growth but you’re not going to hit those numbers.

“So, I think Chelsea will be looking to monetise the digital world. If you can’t get them all into Stamford Bridge, can you take Stamford Bridge to them? We’ve talked about this before, streaming games through augmented reality and so on.

“If you are generating revenues of £1billion, they are going to have to do it through new and innovative means, not the ones that are fixed at the minute.

“It’s a very high marker and it isn’t going to happen overnight. If it does happen, they are going to get there through non-traditional means.“

In other news, medical insider issues “massive” claim as Chelsea set for behind-the-scenes overhaul.