Chelsea face huge financial CRISIS this summer

Jacque Talbot

• Updated: 9 Apr 2023 16:14 BST
• 3 min read

David Ornstein has spoken about the financial issues engulfing Chelsea at the moment.

The Athletic reporter was speaking on NBC about the current state of play for the Blues after their heavy spending last summer and during the January period.

Under their new ownership, Todd Boehly, the co-chairman, has seen the west London side splash the cash on a number of players. Since taking over from Roman Abramovich in the summer, the new owner of Chelsea has been spending vast sums of money without any restraint.

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And Ornstein spoke about how the club now have ‘big problems’ on the horizon.

He said: “Chelsea have big problems on the horizon. Financial accounts that have been filed with Companies House today show huge losses, huge payoffs to former directors, huge spending on transfers. They will have to get that FFP situation right in the summer”.

Since Todd Boehly took over as owner of Chelsea in July 2022, the club's approach to the transfer market has been characterised by a scattergun approach, with their spending far surpassing that of their rivals.

The club has spent a staggering £460m since Boehly's arrival, with £190m being spent in just six new signings, including Mykhailo Mudryk and Noni Madueke. The Chelsea owner has been able to comply with Financial Fair Play rules by giving players long contracts, as a way to spread out the payments.

Todd Boehly spending

Raheem Sterling – £50m

Kalidou Koulibaly – £34m

Marc Cucurella – £62m

Wesley Fofana – £70m

Carney Chukwuemeka – £20m

Gabriel Slonina – £12m

Cesare Casadei – £12.6m plus £4.2m in add-ons

Pierre-Emerick Aubameyang – £10.6m

Denis Zakaria – £2.6m loan fee (option to buy for £30m)

Benoit Badiashile – £33.7m

Andrey Santos – £11m

David Datro Fofana – £10m

Joao Felix – £9.7m loan fee

Mykhailo Mudryk – £88m

Noni Madueke – £35m

Enzo Fernandez - £110m

Total: £575m