LONDON (AP) — Chelsea has recorded a loss of 96.6 million pounds (around $128 million) for the year ending June 30.
The loss was revealed Tuesday in the Premier League club’s latest financial results.
After two profitable years, Chelsea insisted it’s still compliant with UEFA’s Financial Fair Play regulations.
The club cited a lack of Champions League football, costs associated with changing manager and a record outlay on players Kepa Arrizabalaga, Christian Pulisic, Mateo Kovacic and Jorginho for the loss.
Turnover grew slightly to 446.7 million pounds.
“Consistent revenue growth and careful financial management over recent seasons has allowed the club to make significant levels of investment in the playing staff whilst maintaining compliance with