Chelsea have announced a £153.4m publish-tax loss for the economic year finishing 30 June 2021.
The end result is in stark evaluation the 2019/20 economic year where the club generated a internet income of £32.5m.
The Blues' bills had been launched on Thursday with Chelsea's administrators explaining the results in a strategic report.
"The loss for the year earlier than taxation changed into £a hundred and fifty five.9m compared to a earnings of £35.7m for the prior yr," the file (thru BBC Sport) began.
"A loss of sales because of the bulk of 2020/21 matches taking located in the back of closed doors due to the COVID-19 Pandemic, in addition to reduced earnings on player income and multiplied player amortisation had been the fundamental reasons for this movement.
"This yr noticed an general growth in turnover from £407.4m to £434.9m driven with the aid of an increase in broadcasting sales."
A sizable hollow in Chelsea's revenue became created by the big majority of 2020/21 video games being performed in the back of closed doors. This led to £46.8m discount in matchday sales in comparison to the previous season. Commercial sales took a similar hit, falling by way of £sixteen.8m.
This reduced sales coincided with expanded team of workers charges. Overall, pre-superb working expenses rose £69.3m from ultimate season, with the gambling and workforce budget spiking via £forty nine.4m.
This news comes as little surprise as Chelsea spent huge inside the 2020 summer transfer window, bringing within the likes of Kai Havertz, Timo Werner and Ben Chilwell. They additionally changed managers, sacking Frank Lampard in favour of Thomas Tuchel, which would have incurred considerable costs.
Chelsea continued to be sponsored by way of lengthy-term owner Roman Abramovich and despite rumours suggesting he is probably open to selling the membership, this does not seem possibly to exchange in the on the spot destiny.
