Chelsea had an overall net loss of £121.3 million for 2021-22 due to “extraordinary expenses and loss of revenue” after sanctions were imposed on previous owner Roman Abramovich, the Premier League club said on Monday.
Russian owner Abramovich put the club up for sale in early March last year following Russia’s invasion of Ukraine, which Moscow calls a “special military operation”. UK government sanctions on Abramovich had also complicated the sale process.
Chelsea were not allowed to sell tickets, resulting in a loss of revenue, while their operational spend was also curtailed due to government restrictions until the sale was completed at the end of May.
“During this period, the club was restricted in a number of areas including, but not limited to, its ability to sell matchday and season tickets, sell merchandise, accept event bookings, as well as sign contracts with players and commercial sponsorship partners, which collectively resulted in extraordinary expenses and loss of revenue,” Chelsea said.
The club are 10th in the Premier League but also through to the Champions League quarterfinals where they face reigning champions Real Madrid next month.
