Report: Chelsea in concerning financial situation ahead of summer transfer window
Chelsea are the second-worst club in the Premier League in terms of net profit according to The Athletic.
This is despite the fact Frank Lampard has spent little to nothing in the last two transfer windows.
Last summer, Chelsea were under FIFA’s transfer ban and the only transfer they made was triggering Mateo Kovacic’s permanent option (which is technically not registering any new player to the squad).
In January, Chelsea were practically inactive despite the successful appeal to reduce the transfer ban to just one transfer window.
The west London outfit have announced the pre-agreement with Ajax’s Hakim Ziyech in February for a reported fee of £33.5million.
But Frank Lampard will still have plenty of money to spend this summer, mainly from the sale of Eden Hazard to Real Madrid for a reported initial fee of £88.5m, you would have thought.
It’s a fair argument, but a recent report suggests otherwise.
The Athletic recently published data of Premier League clubs’ pre-tax profits and losses in 2018/19.
“The numbers had fallen off a cliff for some of the clubs long before this crisis.”
Premier League Financial Stats: Pre-tax Profit/Loss 2018-19 pic.twitter.com/ucZHBHoWyK
— The Athletic UK (@TheAthleticUK) April 8, 2020
The figures shows Chelsea are the second bottom of the table, with a staggering £101.8m pre-tax loss.
It’s slightly better than Everton’s £107m pre-tax loss but compared to several other top clubs, Chelsea are clearly at a disadvantage ahead of the summer transfer window.
Tottenham Hotspur racked the most pre-tax profit last season with £87.4m, far ahead of the rest of the league.
Liverpool are placed second (+£41.9m), above the third-placed Manchester United (£28.4m).
Arsenal also recorded a pre-tax loss, but their £23.5m loss is far below Chelsea’s massive deficit.
Chelsea are reportedly in the competition with other Premier League clubs for Europe’s stars such as Jadon Sancho and Philippe Coutinho.
Although UEFA are relaxing the FFP rules amid football shutdowns, the board would likely factor in last season’s huge loss and today’s global financial situation before making moves in the summer.