Despite winning the Champions League in 2020/21, Premier League side Chelsea have announced losses of 145.6 million pounds – around 174.3 million euros – after tax.

The financial year ending on June 30, 2020, was dramatically impacted by COVID-19 and the Premier League having games played behind closed doors as a result of the pandemic. Chelsea also saw a decrease in their profits generated by the sale of players.

The Blues’ turnover increased from 387.8 million pounds to 416.8m pounds – from around 461.5m euros to 495.9m euros – due to higher broadcasting revenue, but their losses were nevertheless higher than the 102m pounds – 121.4m euros – in 2019/20.

Explaining their financial situation, Chelsea’s accounts stated that they are “reliant on Fordstam Limited for its continued financial support,” with the company owned by Roman Abramovich. The company also said that they will continue to back the club “for the foreseeable future”.

Unlike in previous years, Chelsea didn’t record any significant sales last year. They did, though, spend big on a number of players in each of the summer transfer windows that came after their transfer ban had ended.

Now, the Blues have several important players reaching the ends of their respective contracts. Thiago Silva, Andreas Christensen, Cesar Azpilicueta, and Antonio Rudiger all see their deals end on June 30, 2022.

Rudiger has been heavily linked with making a move to Real Madrid on a free transfer, while Spaniard Azpilicueta has had his name put forward as a possible target for Barcelona next summer.