Chelsea suffer financial setback leading up to summer transfer window
According to Football.london, Chelsea have suffered a financial setback leading up to the summer transfer window.
This could adversely affect our ability to compete in upcoming transfer window. The Blues squad is in need of key additions in certain positions. It now remains to be seen if the club will consider scaling back investment after reporting a loss last season.
Chelsea are the only big six Premier League club to report an operating loss over the past season according to Deloitte’s annual review of football finance.
The report covers the 2018-19 season. This means the effects of the coronavirus has not been taken into account. Given our understanding of the topic, it’s addition presents a grim picture.
Chelsea had a deficit of £2m while the other five top clubs collectively generated a £566m operating profit. A major factor in this has been the wage costs £69m and the amortization of player registrations that amount to £44m. (h/t Football.london)
Our wage bill is the third-largest in the Premier League according to the report. Only £1m behind Manchester City in second place.
The club’s debt to Roman Abramovich risen by £228m last season, taking the overall total to almost £1.4billion.
The report claims a dip in the transfer fee received from selling players. It does not however take into account the mammoth fee we received for Eden Hazard last summer. (h/t Football.london)
This has however not stopped the club from going big this summer. We have already signed Hakim Ziyech and it looks as if Timo Werner is also in the bag.
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Chelsea are also linked to the likes of Kai Havertz and Ben Chilwell, both of them who will cost considerable sums.
It remains to be seen if this will in any way impact the club’s ability to restructure the squad.
