Chelsea announce record pre-tax loss

CHELSEA chief executive Peter Kenyon insisted the club remain on course to break even by 2010 after posting record pre-tax losses of £140 million (€204m).

For the second successive season, the Premiership champions have far outstripped the record losses of any other British club.

Chelsea posted a loss of £87.8m (€128.21m) on for the financial year 2003-04, but the latest figures for the year ending June 30, 2005 reveal the club have now lost £227.8m (€332.65m) in the first two years of Roman Abramovich’s ownership.