European champions Chelsea have announced losses of £145.6m after tax for the year to 30 June 2021.
The Premier League club won last season’s Champions League under Thomas Tuchel.
Their turnover went up from £387.8m to £416.8m thanks to an increase in broadcasting revenue.
But the club say playing games with no crowds because of Covid-19 and a reduction in profit on player sales were the main reasons for the loss.
Chelsea FC PLC continues to be supported financially by Fordstam Limited, a company owned by Roman Abramovich - with confirmation in the accounts that the club owes more than £1bn to “related companies”.
The accounts also say that “the company is reliant on Fordstam Limited for its continued financial support”. It says Fordstam has indicated support will continue “for the foreseeable future”.
The club adds that under a “severe but plausible downside scenario of football being played behind closed doors in December 2021 and January 2022” it would be reliant on additional funding from Chelsea FC PLC, with further funds needed if the financial impact of Covid-19 were even more severe. (BBC Sport)