Chelsea has revealed that last season was the most unprofitable in English football history.
Details: According to the financial report from Chelsea FC Holdings Limited, the pre-tax deficit was £262.4 million ($349 million). This amount sets a new record as the largest annual loss ever seen in the Premier League.
In contrast, UEFA’s February report estimated the losses to be £342 million. The Athletic notes that this difference arises due to UEFA’s strict regulations, which focus on the true operating costs of running a football club and exclude irrelevant income.
On the other hand, Chelsea’s internal reports follow general accounting practices, not specifically for football, which allowed the final number to appear less severe.
Reminder: Barcelona is set to sell their star player to Chelsea.