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7 months ago
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Chelsea's financial calamity has been laid bare after it was revealed they posted the most severe operating loss of any Premier League club in history last season.
Their operating loss was a staggering £249million, almost £100m more than their nearest rival, Leicester, who recorded a £152m deficit.
They also had the most expensive squad, valued at £1.117billion, and the second-highest wage bill in the top flight of £404m, not far behind Manchester City.
Chelsea spent the most in amortisation - transfer fees spread across a player's contract - with a whopping £205m.
While they splashed £745m on player purchases, they only recouped £203m in player sales.
Chelsea had the highest operating loss in the Premier League last season, it has been revealed
They splashed £745 on buyng players, including a British record £107m on Enzo Fernandez
Chelsea finished 12th in the Premier League table in 2022/23 with
⚽️2nd highest wage bill
⚽️ Highest amortisation cost
⚽️ Most expensive squad
⚽️ Biggest operating loss pic.twitter.com/I99gBNUL8n
That included a then-British transfer record of £107m on Enzo Fernandez from Benfica in January 2023.
Months later, they smashed that record by purchasing Moises Caicedo from Brighton for £115m, which will be included in the accounts for 2023/24 when they are released.
Their borrowing for the year was £428m.
All of this elaborate spending, outstripping their rivals in almost every financial department, led to Chelsea finishing 12th in the Premier League.
This is the first time that Clearlake Capital have released accounts during their reign at Stamford Bridge.
It was also revealed how Chelsea sold a hotel to BlueCo - the consortium led by Todd Boehly and Clearlake who bought the club in May 2022 - for £76.3million.
That helped to reduce the club's loss and stay within the Premier League's profit and sustainability rules.
This fresh wave of information comes amid fears over the club's lavish spend in the 2023/24 campaign.
Chelsea's squad was priced at £1.117billion and their wage bill was £404million, second only to Manchester City
Chelsea spent a staggering £75.1million on agents' fees alone between February 1, 2023 and February 1, 2024, as revealed by the Football Association on Friday.
That was partly down to an exorbitant summer spend, with Caicedo, Christopher Nkunku, Nicolas Jackson, Romeo Lavia, Cole Palmer, and more joining in multi-million pound deals.
The club's spending on new signings under Boehly has already passed £1billion in under two years.
More to follow.
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