LONDON (AFP) – Chelsea face a huge challenge to avoid breaching Premier League sustainability rules after posting an GBP89.8 million (USD112 million) loss for the 2022/23 season.
The Blues’ wage bill soared to over GBP400 million last season, while they splashed out GBP745 million on transfer fees.
But that investment in the club’s first full season under an American investment consortium fronted by LA Dodgers co-owner Todd Boehly failed to deliver success.
Chelsea finished 12th in the Premier League last season despite having the second highest wage bill, behind only English champions Manchester City.
Chelsea currently sit ninth in the table this season despite a further GBP454 million being spent on new players since June 30, 2023.
Figures for the current season are likely to be even worse as Chelsea are not involved in European football.
A run to the Champions League quarter-finals last season was worth around GBP83 million.
Football Association figures released on Friday also showed the west London club have spent a Premier League record GBP75 million on agents’ fees alone this season.
Chelsea are likely to have to raise significant sums from selling players before the end of June to avoid falling foul of the Premier League’s profit and sustainability rules. Clubs are allowed to lose a maximum of GBP105 million across a three-year assessment period.
Chelsea posted a GBP121 million loss in the 2021/22 season.
