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Chelsea faces financial challenge amid £89.8m loss

Posted : 13 April 2024

Chelsea is confronted with a daunting task to steer clear of breaching Premier League sustainability regulations, having revealed an £89.8 million ($112 million) deficit for the 2022/23 season. Their wage bill skyrocketed to over £400 million during the same period, coupled with a hefty £745 million expenditure on transfer fees.


Despite this substantial investment, the club's performance on the field failed to meet expectations, culminating in a disappointing 12th-place finish in the Premier League.


Under the management of Mauricio Pochettino, Chelsea currently occupies the ninth spot in the league standings, despite shelling out an additional £454 million on new signings since June 30, 2023.


The club's financial losses were somewhat offset by the sale of a hotel for £76.3 million to their parent company, BlueCo. However, with Chelsea not participating in European competitions this season, their financial outlook is expected to deteriorate further.


The situation is exacerbated by Chelsea's Premier League record expenditure of £75 million on agents' fees this season alone.


To avoid violating the Premier League's profit and sustainability rules (PSR), which permit a maximum loss of £105 million over a three-year assessment period, Chelsea may need to generate substantial revenue through player sales before the end of June.


Failure to do so could result in severe penalties, as witnessed with Everton's deduction of eight points on two separate occasions and Nottingham Forest's four-point deduction for PSR breaches this season.


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