Chelsea lost £354,000 every day for 10 years, but still survives

Chelsea have managed to spend an insane £1.29 billion over the last decade, yet they appear financially sound.

According to The Athletic, the West London giants have been losing £354,000 a day for 10 years. Since the Americans bought the club from Roman Abramovich, who was not a stingy owner at all, the new owners have spent over £1 billion on player transfers alone. And they now have their third full-time manager, having sacked Thomas Tuchel just three months into their era. Graham Potter and Mauricio Pochettino have also come and gone, taking their compensation packages with them. But how is it possible that with such figures, Chelsea have made peace with financial regulations?

This is explained by the intelligence they have shown, signing players to unusual contracts for the duration of the players, starting from 8 years, and keeping the balance sheet within limits. The Athletic also reports that they are within the limits of the Premier League's spending rules, by selling their assets to themselves. They sold their women's club to another entity belonging to their ownership group, collecting 200 million pounds and recording a profit of 198.7 million pounds.

Such financial “slyness” avoided what would have been another major loss and what could have been financial ruin was cleverly turned into a £275.2m profit. The Premier League’s financial rules are simple, clubs cannot lose more than £105m over three seasons, excluding certain deductions. On paper, Chelsea are still in the green. But UEFA will not be so generous. Because UEFA plays by stricter rules.

Their version of Financial Fair Play only allows a loss of £68m and they oppose sales to sister companies. This nullifies the £275m accounting “trick” and leaves Chelsea on shaky ground.

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