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Chelsea set unwanted Premier League record with the publication of the financial records.
After the release of their most recent financial statements, Chelsea has become the first Premier League team in history to incur losses of £1 billion.
Chelsea was bought by Todd Boehly and Clearlake Capital in the summer of 2022; the first transfer window under their ownership is detailed in the 2021/22 report.
In the summer transfer window, according to Chelsea, £368 million was spent on no less than 18 new recruits for both the playing and coaching staffs. Their January exploits will be covered in the report for the following year.
The most damning part of this report, however, is the latest operating loss of £235m for the 2021/22 season, which sees their cumulative total reach £1bn for the first time in Premier League history.
In order to complete their takeover, the new owners also invested a sizeable number of money. Former director Marina Granovskaia received £35 million for her assistance in finalizing the sale, in addition to a lesser compensation payment when she departed the club.
The other directors engaged in the transaction each received £14m.
The financial bombshell comes as Chelsea gears up to miss out on Champions League play next season due to their inability to comply with UEFA’s Financial Fair Play rules.
The Blues have dropped to 11th in the Premier League and will likely need to win the Champions League this year to have any chance of participating in European play next season.