Chelsea loss £145.6m despite Champions League success

Reigning European football champions, Chelsea has a loss of £145.6 million (S$266 million) for the year to June 30, 2021, despite their Champions League triumph.

Recall that the London club was crowned kings of Europe in May following a 1-0 win over English rivals Manchester City in the Champions League final in Porto.

But while their turnover rose from £387.8 million to £416.8 million thanks to an increase in broadcasting revenue, Chelsea said they still made a loss after playing games with no crowds because of Covid-19, with a reduction in profits on player sales also damaging their balance sheet.

Chelsea continues to receive financial support from Fordstam Limited, a company controlled by club owner Roman Abramovich, and their accounts state that “the company relies on Fordstam Limited for its ongoing financial support.”

The Blues added that in a “serious but plausible unfavourable scenario for playing football behind closed doors in December 2021 and January 2022” they will rely on additional funding from Chelsea FC PLC, with additional funds required if the financial impact of Covid-19 was even more severe.

While the news that Chelsea loss £145.6mn was shocking to fans, the club said on Thursday they have signed three players for a total of £ 109.7 million – striker Romelu Lukaku, goalkeeper Marcus Bettinelli and midfielder Saul Niguez, on loan from Atletico Madrid since 30 June.

During the same period, Chelsea added that they sold 13 players for a total of £ 103.7 million. They could also receive an additional £ 16.4 million if all outstanding provisions in previous transfers are complied with.

Russian billionaire Abramovich bought Chelsea in 2003 and witnessed the most successful era in club history, including five England titles and two Champions League crowns, with the Blues completing the championship and twice in the FA Cup in 2009/10.

RECOMMENDED ARTICLEs

• Chelsea was too difficult, I had to leave – Giroud breaks silence on why he left
• Ronaldo criticizes France Football editor over comment on Messi’s Ballon d’Or
• REVEALED: I chose to join Paris Saint-Germain in order to win fifth Champions League__ Messi
• Arsenal vs. Chelsea: Watch the moment Lukaku scores in his second debut