Chelsea reveal losses

Chelsea have been left counting the cost of recent managerial upheaval after announcing losses of £65.7m (€73.4m) for the last financial year.

In a statement released today the Barclays Premier League club confirmed it had achieved “record group turnover and reduced losses for a third successive season” but revealed £23.1m (€25.8m) had been paid in compensation to two first team managers and five coaching staff.