Chelsea Football Club

Chelsea Football Club have published their financial results which demonstrate consistency over the last few years (yet more losses) following a change in ownership. Their losses were £64m which, we are advised, are after exceptional items. These exceptional items which are included in staff salaries amount to £23.1m and relate to compensation payments to two first team managers and five coaching staff. As they don’t include the most recent manager departure are they still considered exceptional? Interestingly they state that any squad restructuring in the summer is to be funded predominantly by sales. Interesting as they have an ageing squad, though they don’t mention which summer!!!!