LONDON:
Chelsea said the government sanctions were imposed on the former manager Roman Abramovich part of the club’s £121.3 million ($148.8 million) loss for the 2021/22 season.
Russian billionaire Abramovich was fined by the British government in March last year following Russia’s invasion of Ukraine.
The minister described him as part of the inner circle of Russian President Vladimir Putin.
Chelsea were placed under a special license that limited their ability to sell tickets, accept special offers and even sign contracts with players.
The restriction remained until May 30 last year, after the American businessman Todd Boehly took over the new club.
Chelsea said in a statement on Monday that revenue rose to £481.3 million from £434.9 million last year despite the sanctions. Commercial income rose to £177.1 million.
The financial results do not include the acquisition of Chelsea in the two transfer windows, when it is reported that they spent about £ 600 million on new players.
The 2021/22 results show that £118 million was invested in players, including the renegotiation of player contracts, while a profit of £123 million was made on acquisitions. the players include Tammy Abraham, Marc Guehi, Fikayo Tomori and Kurt Zouma.
Chelsea said they were complying with UEFA and Premier League financial rules despite the loss and the impact of the sanctions.
According to the club, the impact of the sanctions on the financial results will also be felt “in the following years”.
Chelsea are currently 10th in the Premier League table after a recent promotion under manager Graham Potter.
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