Chelsea announce £145.6m loss as Roman Abramovich indicates support to continue ‘for the foreseeable future’

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 (AFP via Getty Images)
(AFP via Getty Images)

Chelsea have announced losses of £145.6million for the year ending June 30, 2021.

The club say the impact of playing games behind closed doors due to Covid and a reduction in profit on player sales were the main reasons for the loss.

In accounts published for the latest financial year, turnover was up from £387.8m to £416.8m thanks largely to an increase in broadcasting revenue.

Chelsea FC PLC continues to be supported financially by Fordstam Limited, a company owned by Roman Abramovich.

The accounts say: “The company is reliant on its ultimate parent undertaking, Fordstam Limited, for its continued financial support. Fordstam Limited has indicated its continued support for the foreseeable future”.

Abramovich attended his first Chelsea match at Stamford Bridge in more than three years in November when he was at their 1-1 draw with Manchester United.

The Russian billionaire had travelled to London and made a rare visit to the stadium.

Chelsea’s latest financial accounts also say the club owes more than £1billion to "related companies".

Chelsea spent £220.3m on new signings during the financial year, including the arrivals of Kai Havertz, Ben Chilwell and Edouard Mendy. Since June 30, they have signed three players for a total of £109.7m - Romelu Lukaku, Marcus Bettinelli and Saul Niguez on loan.

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