Chelsea say Government sanctions imposed on former owner Roman Abramovich were a factor in the club posting losses of £121million in 2021-22...
Russian billionaire Abramovich was sanctioned by the UK Government in March last year as it sought to freeze the assets of individuals it believed had connections to the country’s president, Vladimir Putin, following the invasion of Ukraine.
The restrictions remained in place until May 30 last year when a new consortium led by American businessman Todd Boehly completed its takeover of the club. Chelsea said turnover had increased to £481.3m from £434.9m the previous year despite the sanctions. Commercial revenue increased to £177.1m. The financial results do not capture Chelsea’s summer 2022 or January 2023 acquisitions, when they are reported to have spent around £600m on new players.
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