Chelsea posts financial losses for fifth year in a row despite record losses in Todd Boehly's first full season
Chelsea posted record turnover in Todd Boehly's first year as chairman but still suffered losses overall.
The Blues released their financial results for the year ending June 30 and the headline was positive.
Turnover has now reached £512.5m, up from £481.3m the previous year, with the club attributing the rise to increased matchday and commercial revenue, and a lack of sanctions government imposed on the previous owner. Roman Abramovich.
However, they still made a loss of £90.1 million, making it five years in a row that the club has lost money.
The figure is a reduction from last year's loss of £121.4 million, but the good news was outweighed by the bad.
In its first full year under Boehly and Clearlake Capital, commercial revenue rose to £210.1 million and there was a net increase in sponsorship revenue.
But spending on other aspects, on operating expenses, matchday costs and non-matchday costs, as well as higher staff costs, has set the club back.
Furthermore, the positivity of the women's team winning the Women's Super League and the Women's FA Cup was offset by a poor performance from the men's team, who finished 12th in the Premier League and exited the Carabao and FA Cups in the third round.
Unfortunately for Chelsea fans, things haven't gone much better this year either after the terrible campaign under Graham Potter and Frank Lampard.
The Blues reached the Carabao Cup final under Mauricio Pochettinobut they were embarrassed by an understrength Liverpool.
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Meanwhile, in the league, the club surprisingly only occupies 11th place despite its record investment.
Chelsea have spent approximately £1 billion on transfers since purchasing Boehly, and have broken records for summer and winter spending.
However, despite that, it looks like they will miss out on lucrative European football for another season.
Things stabilized in the most recent window, with Chelsea not spending a penny in January, which could well help their accounts next year.
Even with last year's losses, the club confirmed which still complied with UEFA and Premier League financial regulations.
