Chelsea Post 121.3 Million Pounds Loss, Blame Sanctions on Former Owner Abramovich
Chelsea had an overall net loss of 121.3 million pounds ($148.65 million) for 2021–22 due to “extraordinary expenses and loss of revenue” after sanctions were imposed on previous owner Roman Abramovich, the Premier League club said on Monday.
Russian owner Abramovich put the club up for sale in early March last year following Russia’s invasion of Ukraine, which Moscow calls a “special military operation.” UK government sanctions on Abramovich had also complicated the sale process.
Chelsea were not allowed to sell tickets, resulting in a loss of revenue, while their operational spend was also curtailed due to government restrictions until the sale was completed at the end of May….