Chelsea announced financial results for the 2021/22 season with a loss of £121m and blamed Roman Abramovich’s suspension in March 2022 for the negative result. In March 2022, after Russia’s invasion of Ukraine, Russia was given the go-ahead when the government froze the assets of several individuals believed to have ties to Russian President Vladimir Putin.
It’s important to note that the results include the 2021/22 financial year, meaning the club’s biggest spend this season, estimated at €611.5 million, is a record spend. Values represent a tumultuous season that has precisely changed club ownership.
When Abramovich was let go, Chelsea’s future was in doubt as the club was one of his assets. The club received a special license that allowed it to operate but restricted its ability to sell tickets, organize events and sign players. The restrictions continued until May 30, when a consortium led by American businessman Todd Bohley bought the club.
Despite the bans Chelsea claims revenue increased from £434.9m to £481.3m, with trading revenue rising to £177.1m. The loss was attributed to increased operating expenses.
The 2021/22 financial results show the club invested £118m in signing players, but made a £123m profit thanks to the sales of Tammy Abraham, Marc Guehi, Fikayo Tomori and Kurt Zouma.
According to Chelsea, they continue to comply with UEFA and the Premier League’s financial regulations, despite the losses and the impact of sanctions against Abramovich, which have affected the club. The financial report also said that the effects of economic sanctions on financial results may continue to be felt in the coming years.
