Chelsea lose £96m after failing to qualify for Champions League 

Chelsea made a loss of £96million after missing out on Champions League football last season.

The Stamford Bridge club did win the Europa League under former manager Maurizio Sarri in May – but over the year splashed out a record £280m on new players.

Chelsea’s turnover, figures released on New Year’s Eve showed, grew to £446.7m from £443.4m the previous year. But after two profitable years in 2017 and 2018, the club recorded a loss of £96.6m for the year ending 30 June 2019.

That loss came about through a season without Champions League football, plus a large outlay on players, together with a payout of some £9million to former manager Antonio Conte.

Chelsea spent a record £280.6m on players over the year, bringing in the likes of Kepa Arrizabalaga for £72m, Christian Pulisic for £58m, Jorginho for £51m and Mateo Kovacic for an eventual £40.5m.

The club’s commercial revenue grew by £14.5m, but broadcasting and matchday revenues dropped by £3.9m and £7.3m respectively, largely as a result of missing out on the Champions League.

That ensured the club, under new manager Frank Lampard, would be back in the Champions League for the 2019/20 campaign.

Chairman Bruce Buck said: “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 UEFA Financial Fair Play regulations.

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“This solid commercial foundation, allied to a young and exciting team now led by Frank, means that the club is well placed to sustain its pursuit of success as well as maintain its financial stability over the coming years.”