Chelsea records $128-million loss, turnover up

Frank Lampards on Chelsea draw and Zaha links
Photo by Gareth Fuller/PA Images via Getty Images
0 Comments

LONDON — Chelsea has recorded a loss of $128 million for the year ending June 30.

[ MORE: Mourinho was “rude to an idiot”; talks injuries, transfers ]

The loss was revealed Tuesday in the Premier League club’s latest financial results.

After two profitable years, Chelsea insisted it’s still compliant with UEFA’s Financial Fair Play regulations.

The club cited a lack of Champions League football, costs associated with changing manager and a record outlay on players Kepa Arrizabalaga, Christian Pulisic, Mateo Kovacic and Jorginho for the loss.

Turnover grew slightly to $592 million.

[ MORE: Solskjaer: Pogba “out for a few weeks” with ankle injury ]

“Consistent revenue growth and careful financial management over recent seasons has allowed the club to make significant levels of investment in the playing staff whilst maintaining compliance with UEFA Financial Fair Play regulations,” Chelsea chairman Bruce Buck said on chelseafc.com.

“This has contributed to another Europa League victory at the end of the 2018-19 season and a return to the highest level of European competition.

“This solid commercial foundation, allied to a young and exciting team now led by Frank Lampard, means that the club is well placed to sustain its pursuit of success both on and off the pitch as well as maintain its financial stability over the coming years.”

Chelsea made a $82 million profit in the previous year.