Chelsea Announce £96.6m Loss in Latest financial results

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BAKU, AZERBAIJAN - MAY 29: Gary Cahill of Chelsea lifts the Europa League Trophy with his team following victory in the UEFA Europa League Final between Chelsea and Arsenal at Baku Olimpiya Stadionu on May 29, 2019 in Baku, Azerbaijan. (Photo by Michael Regan/Getty Images)
Chelsea announce £96.6m loss in latest financial results
(Sky Sports )
Chelsea state a change in manager as well as a record outlay on players was the cause of the financial deficit

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.

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 League victory at the end of the 2018-19 season and a return to the highest level of European competition.

“This solid commercial foundation, allied to a young and exciting team now led by Frank Lampard, means that the club is well placed to sustain its pursuit of success both on and off the pitch as well as maintain its financial stability over the coming years.”

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