Chelsea posted an after-tax loss of £145.6 million despite a £416.8 million turnover
English Premiership side, Chelsea, have announced post-tax losses of about £145.6m for the year to 30 June 2021.
The Champions League-winning club under the auspices of Thomas Tuchel announced that the turnover went up from £387.8m to £416.8m, due to an increase in broadcasting revenue.
The impact of Covid-19, resulting in several matches played with no crowd, and a reduction in profit from player sales has been identified as the main reasons for the loss.
The accounts also say that “the club is reliant on Fordstam Limited for its continued financial support”. It says Fordstam has indicated support will continue for the club “for the foreseeable future”.
Fordstam Limited, is owned by the Russian billionaire, Roman Abramovich.
It is worthy of note that Premier League and EFL clubs recently accepted to fulfil festive fixtures despite ongoing Covid-19 disruption.
In spite of a series of postponements and over 100 Premier League players and staff testing positive for Covid-19 in the seven days up to and including 26 December, the clubs have accepted that the matches will continue.
