Chelsea confirm £145.6m loss as pandemic and transfer business bites hard – Football.London

Chelsea made a post-tax loss of £145.6million for the financial year ending in June, with the club pointing to the pandemic’s impact and a decreased profit on player sales in their latest accounts.

Roman Abramovich’s club made a profit of £39.5million a year previous.

Overall turnover jumped by 7% to £416.8million, mostly thanks to a boost in broadcast income, but matchday revenue was obliterated owing to most of last season taking place behind closed doors and there was a knock-on impact to commercial income.

Broadcasting revenue increased by £91million to £273.6million but that was a consequence of the previous Premier League campaign running into the summer and additional Champions League games, for which, the club notes, broadcasting revenue is reconised at the time the matches are played.

Matchday revenue was just £7.2milllion with three home games taking place in front of limited capacity. In the last full campaign pre-coronavirus, Chelsea made £75.6million in matchday income.

The accounts also show commerical revenue fell by £16.1million to £136million, with closed stadiums and a decrease in pre-season revenue the factors. There was, however, a net increase in sponsorship revenue.

Chelsea spent £220.3million on signings in the financial year, headlined by the arrival of Kai Havertz in addition to Ben Chilwell and Edouard Mendy. The financial year concluded the day before the 2021 summer transfer window opened so the £100million cost of signing Romelu Lukaku from Internazionale is not factored in.

According to the accounts, the squad’s value before adding the striker was £957million, meaning the Belgian’s arrival would have taken it beyond a billion. Wages for the period were £333million, with an average player salary of £155,000 per week.

The club made £27.9million in player sales, a sharp contrast to the £142.6million earned a year previous, with Victor Moses’ move to Spartak Moscow and Nathan’s sale to Atletico Mineiro included.

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