Chelsea suffer financial setback ahead of the summer transfer window

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Ahead of the summer transfer window, Chelsea have suffered a financial setback after posting a deficit of £2million in 2018/19.

According to Daily Express, Chelsea are the only ‘big six’ Premier League club to report an operating loss in 2018/19.

The report claims Chelsea struggled so much compared to our rivals because of “marginal revenue growth (one per cent), a reduction in profits achieved on sale of players (from £113m to £60m) and the largest increases among Premier League clubs in both wage costs (£69m) and amortisation of player registrations (£44m).

Chelsea’s wages-to-turnover ration of 70 per cent is the highest among our direct rivals and sits nine per cent above the Premier League average.

Chelsea’s debt to owner Roman Abramovich rose by another £228m last season – taking the overall total up to £1.4bn.

However, Chelsea’s lack of spending last summer and in January will have helped to balance the books this time around, combined with Eden Hazard’s departure to Real Madrid.

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OTONY
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