13 Feb 2009Chelsea record £65.7m loss

Football Clubs News | Football Finance News

Chelsea have posted a £65.7 million loss for the financial year to the end of June 2008, their club website revealed today (February 13th).

The Blues have previously stated their intention to exist self-sufficiently - in other words, without the input of billionaire owner Roman Abramovich - by the beginning of the 2009-10 financial year.

However, the latest figures show that they had to lay out a total of £23 million after sacking managers Jose Mourinho and Avram Grant, plus five coaches, during the course of the year.

Chief executive Peter Kenyon said: "There is no doubt that the positive upward trends of turnover and the continued reduction in losses show that Chelsea is building a strong business base to build on in what will be challenging times."

Kenyon added that spending on any new arrivals at Stamford Bridge in the summer would have to be offset by player sales.

Abramovich has pumped £710 million into Chelsea since buying the club in 2003, according to the BBC.

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