Chelsea announce £96.6m loss in latest financial results | Football News

Last Updated: 01/01/20 7:58am

Chelsea state a change in manager as well as a record outlay on players was the cause of the financial deficit

Chelsea recorded a loss of nearly £100m for the year ending June 30 as the club released their latest financial results.

However, despite the figures, the Blues insisted they are still compliant with UEFA’s Financial Fair Play regulations.

Turnover grew marginally to £446.7m with the club citing a lack of Champions League football, costs associated with changing manager and a record outlay on players Kepa Arrizabalaga, Christian Pulisic, Mateo Kovacic and Jorginho for the £96.6m loss.

0:54 Chelsea boss Frank Lampard says the club can’t be too ‘reactionary’ in the January transfer window after having their ban lifted

Chelsea boss Frank Lampard says the club can’t be too ‘reactionary’ in the January transfer window after having their ban lifted

Chairman Bruce Buck said: “Consistent revenue growth and careful financial management over recent seasons has allowed the club to make significant levels of investment in the playing staff whilst maintaining compliance with UEFA Financial Fair Play regulations.

“This has contributed to another Europa…