Chelsea Posts £145.6 Million Loss

Chelsea Football Club has announced a loss of £145.6m for the year, despite turnover increasing from £387.8m to £416.8m thanks to an uplift in broadcasting revenue. 

According to a club statement, the team’s financial results were severely affected by Covid-19 and playing the majority of its Premier League games in the 2020/21 season behind closed doors, in addition to a reduction in profit from player sales. 

Chairman Bruce Buck said, “The pandemic has had a severe impact on the club’s income for a second year in a row… however, with our success in the Champions League, we have been able to offset the huge impact of the pandemic on our revenues. Had it not been for the matchday impact of the pandemic, we are confident we would have achieved record turnover this year. 

“Throughout this period we have continued to receive the full commitment and support of the owner across the entire business allowing us to continue to invest in our playing squad during this period. This is, of course, while working within the regulatory framework and constraints with which we must operate,” he added.