Conor Gallagher, Mason Mount, and others are likely to be let go as Chelsea attempts to meet Financial Fair Play regulations following a loss of £121 million ($149 million) in the club’s 2021-22 annual accounts. Since the beginning of last summer, the Blues have spent approximately £600 million on transfers, not including the record fee they paid to sign Graham Potter from Brighton.
The current ownership of Chelsea FC has attributed the club’s current financial challenges to the previous regime, which was led by Roman Abramovich. After being sanctioned for his connections to Russia following the country’s invasion of Ukraine, the current owners, led by Todd Boehly, believe that the long-term prospects of the club were adversely affected.
According to a statement released by Chelsea, the club was constrained in several areas during Abramovich’s tenure, including its ability to sell matchday and season tickets, merchandise, and event bookings, as well as to sign contracts with players and commercial sponsors. This led to considerable expenses and revenue losses, which are expected to continue affecting the club’s financials in the coming years due to the lasting impact of the limitations on entering new contractual arrangements.
The financial losses incurred by Chelsea FC in the 2021-22 season do not reflect the club’s significant expenditure this season, which underlines the daunting challenge facing Todd Boehly and his team this summer. As a result, the club may need to reconsider its plans to construct a new stadium worth £2 billion ($2.5m), putting the project on hold or even canceling it entirely. Ahead of a hectic summer, Chelsea’s top priority is to secure victory in the Champions League and qualify for the competition next season. Given their current position in the Premier League, it is unlikely that they will earn an automatic berth, making their success in the Champions League even more critical. Participation in high-profile European competitions like the Champions League has a substantial impact on the club’s financial stability due to the significant revenue generated.
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