Todd Boehly speaks out on Chelsea's PSR fears after damning 2022/23 accounts released
- Chelsea reported losses of £90.1m over 2022/23 season
- Many believe Blues will be forced to sell players to avoid breaching financial regulations
- Boehly remains confident Chelsea will avoid any sanctions
By Tom Gott
Chelsea co-owner Todd Boehly remains confident the Blues will abide by the Premier League's Profit and Sustainability Rules (PSR) after the club's financial accounts for 2022/23 were released.
Following confirmation that Chelsea had paid £75.1m to agents between February 2023 and February 2024 - more than any other Premier League side - the Blues revealed a full analysis of their £90.1m losses for 2022/23.
Included in the report is the revelation that Chelsea's losses would have been higher had it not been for the £76.5m sale of a club-owned hotel from the ownership group to BlueCo 22 Properties Limited, a subsidiary of parent company BlueCo 22 Limited.
With significant expenses not leading to the financial boost that comes with on-field success, Chelsea are reportedly at risk of a PSR breach which many believe will force them to sell close to £100m of players before June 30.
Nevertheless, in a statement signed by chairman Boehly, Chelsea once again rebuffed suggestions they were at risk of sanctions.
"The club continues to balance success on the field together with the financial imperatives of complying with UEFA and Premier League financial regulations," the statement read. "The club has complied with these since their inception in 2012 and expects to do so in the foreseeable future."
Chelsea ended last season with a wage bill of £404m, a figure only exceeded by Manchester City's £423m.
That figure, which is also believed to include compensation fees to both Thomas Tuchel and Graham Potter, will likely have dropped following a summer of significant departures.
£203m was raised from player sales between July 1, 2022 and June 30, 2023, but a total of £745.2m was spent on new players.
Most of those transfer fees have been amortised, with Chelsea posting a league-high £205m in amortisation costs, and that figure is also believed to have risen after another busy summer of spending.
READ THE LATEST CHELSEA NEWS, TRANSFER RUMOURS & GOSSIP
feed