Chelsea Lost £121 Million In 2021/2022 Season – Club Report
Chelsea lost a whopping £121 million during the 2021-2022 season according to the club’s financial report released on Monday.
In the report, the club blamed the restriction placed on the club and its former owner Roman Abramovich as some of the factors that led to the loss.
Naija News recalls that during the 2021-2022 season, Chelsea was banned from selling players, matchday tickets, and merchandise due to Abramovich’s connection to Russian President Vladimir Putin who ordered the invasion of Ukraine.
The restrictions were lifted after the Russian billionaire put up the club for sale. Todd Boehly and his consortium bought the club in May 2022.
Chelsea claimed that despite the fines, income increased to £481.3 million from £434.9 million the year before. Commercial income increased to £177.1 million.
The losses were attributed to higher operating expenses, which included matchday and non-matchday costs.
During the period under review, Chelsea spent £118 million on the squad. While the club made a profit of £123 million after selling Tammy Abraham, Marc Guehi, Fikayo Tomori, and Kurt Zouma.
The £600 million in player signings Chelsea made in the summer of 2022 and the first month of 2023 are not included in the financial figures.
The club asserted that despite the losses and the impact of the fines from the government, they were still by UEFA and Premier League financial rules.
“Despite the loss in the year and the operating challenges due to the sanctions, the club continues to comply with UEFA and Premier League financial regulations,” the club said.