Chelsea becomes the first club in the Premier League to incur £1 billion in losses

Chelsea is the first club in the Premier League to have losses that exceed $1 billion

According to Chelsea’s most recent financial reports, their operational loss for the fiscal year that ended in May 2022 was a Premier League record at £235 million. Following the acquisition of Todd Boehly and Clearlake Capital, Chelsea spent £368.7 million on players last summer. Their accounts for the years 2021–2022, which were posted on Companies House on Saturday, did not contain January signatures.

Kieran Maguire, a football finance expert, tweeted that Chelsea was the first team to have losses above £1 billion. The updated financial records also reveal Chelsea paid former directors, including Bruce Buck and Marina Granovskaia, £49.75 million in exchange for their assistance in selling the team after Roman Abramovich was punished.

Chelsea claimed last month that the UK government’s sanctions on Abramovich contributed to their losses for the previous season through “extraordinary expenses and loss of revenue.”Chelsea co-owner Boehly stated in a statement in the accounts that “the club’s primary strategy is to deliver on-field success.”

Chelsea is preparing to offload players to raise money for another round of significant summer investment, with a new custodian and striker being top priorities. A central defender and another midfielder might potentially be their targets.

Chelsea and RB Leipzig have already reached an agreement with the forward Christopher Nkunku, but they are considering their options. They risk missing out on the Champions League and the associated £90 million or more in television revenue, therefore player sales will be necessary to increase their revenues.

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