Chelsea Football Club has become the first Premier League club in history to accumulate £ 1 billion in losses after financial statements were released. Todd Boehly took over Chelsea last summer after Roman Abramovich was forced to sell the club.
Reports revealed by Kevin Maguire show that the London club recorded operating losses of £ 235 million for the previous season. The accounts also revealed payments to former club directors with Marina Granovskia receiving a whopping £ 35 million.
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These reports can be worrying for Chelsea. In the winter transfer window, they spent more than all the clubs from the top 5 leagues combined.
Although they claimed to have complied with the Financial Fair Play regulations, UEFA might start to investigate following the release of these statements.
Chelsea is currently sitting in the 11th position in the league. With European qualification for next season seeming impossible, Chelsea has a lot to worry about. Missing out on European football would further cost them more than £ 90 million in TV rights.
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