Chelsea Announce Loss Of GBP 145.6 Million Despite Champions League Triumph
NDTV
European champions Chelsea announced Thursday an annual loss of GBP 145.6 million ($196.7 million, 173.5 million euros) for the year to June 30 2021 despite their Champions League triumph.
European champions Chelsea announced Thursday an annual loss of GBP 145.6 million ($196.7 million, 173.5 million euros) for the year to June 30 2021 despite their Champions League triumph. The London club were crowned kings of Europe in May following a 1-0 win over English rivals Manchester City in the Champions League final in Porto. But while their turnover rose from GBP 387.8 million to GBP 416.8 million thanks to an increase in broadcasting revenue, Chelsea said they still made a loss after playing games with no crowds because of Covid-19, with a reduction in profits on player sales also damaging their balance sheet.
Chelsea continue to be backed financially by Fordstam Limited, a company controlled by club owner Roman Abramovich, with their accounts saying "the company is reliant on Fordstam Limited for its continued financial support".
The Blues added that under a "severe but plausible downside scenario of football being played behind closed doors in December 2021 and January 2022" it would be reliant on additional funding from Chelsea FC PLC, with further funds needed if the financial impact of Covid-19 were even more severe.
Chelsea said Thursday they have signed three players for a total of GBP 109.7m -- striker Romelu Lukaku, goalkeeper Marcus Bettinelli and midfielder Saul Niguez, on loan from Atletico Madrid, since June 30.
Promoted
India does not want to travel to Pakistan for the Champions Trophy, while the latter does not want to play in hybrid model
Germany rounded off their Nations League group stage campaign with a 1-1 draw in Hungary after a Dominik Szoboszlai penalty in the 99th minute rescued a point for the hosts
Young Spanish tennis sensation paid tribute to compatriot and legend Rafael Nadal, who bowed out of professional tennis following Davis Cup quarterfinal tie against Netherlands
Star Indian shuttlers PV Sindhu and Lakshya Sen progressed to the second round with superlative wins in the women's and men's singles events at the China Masters
With India unwilling to send its team across the border over security concerns, the onus is on the ICC to help the boards establish a middle ground
Hardik Pandya overtook England's Liam Livingstone and Nepal dynamo Dipendra Singh Airee at the top of the T20I all-rounder charts
Rohit Sharma's participation in the first Test of the Border-Gavaskar Trophy Down Under remains uncertain
The BCCI has informed the International Cricket Council (ICC) that the Indian cricket team won't be travelling to Pakistan, the designated hosts, for the Champions Trophy.
Indian cricket team star batter Virat Kohli continued to bat in the nets even after India's first practice at the Optus Stadium in Perth was halted due to heavy rain.
Rafael Nadal Farewell Match Live Streaming Davis Cup 2024 Finals Live Telecast: Tennis sensation Rafael Nadal aim to mark his emotional farewell with a big victory at the Davis Cup Finals.
Rishabh Pant has confirmed that he didn't leave Delhi Capitals over a disagreement on retention fee ahead of the IPL 2025 mega auction.