The publishing of Chelsea’s financial picture for 2022/23 is something that will attract significant focus.
Having spent more than £1bn in acquiring some of world football’s most highly regarded young talent since acquiring the club back in May 2022, Todd Boehly and Clearlake Capital have changed the transfer market landscape in the European game.
Breaking the British transfer record twice in the space of a year, bagging Enzo Fernandez for £106.8m in January 2023 and Moises Caicedo for £115m in the summer of 2023, the spending of Chelsea has completely overshadowed that of their rivals, although the benefits are yet to be seen on the pitch.
The tactic of handing out long deals of six, seven, eight and nine years in order to reduce the annual amortisation charge on the balance sheet (how transfers are accounted for) drew some ire from rivals, and that resulted in a change of the rules for both UEFA and the Premier League to cap amortisation at five years, although contracts could continue to be longer. Crucially for Chelsea, the change would not be retrospective.
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The publishing of the accounts for the holding company that owns Chelsea and Strasbourg, BlueCo 22, have given the first insights into the financial picture at Stamford Bridge, with the accounts showing a £90.1m loss for the Blues.
That loss, on the back of a £121.3m loss in 2022, and a £60m loss after tax in 2021, a financial year that was assessed over two years (2019/20 and 2020/21) due to the impact of the pandemic, show that Chelsea have lost £271.4m over the course of the last three
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