“Alarm bells ringing” at Chelsea over record losses which “creative accounting” alone can’t solve | OneFootball

Ben Jacobs did his best to defend Chelsea’s record losses on the London is Blue podcast this week, with little success.

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The London is Blue podcast like getting Ben Jacobs on as a guest, so they don’t press him too hard, but even presenter Nick Verlaney couldn’t resist asking whether the monster pre-tax loss of £262m for the 2024-2025 season had set “alarm bells ringing.”

Jacobs rattled off some mitigating factors about it.

Jacobs defends crazy Chelsea losses

“It’s a pre-tax loss… Chelsea are confident they’re compliant… there’s a few mitigating factors when we see the full accounts, including the fines they’ve settled on with UEFA… the upside is that PSR is a three year cycle, and as we head into the next year we will see Champions League and Club World Cup revenue included,” Jacobs said.

“But it shows you that it’s a risk reward strategy full of creative accounting, including the selling of a car park and a hotel.”

He also tried to shift the blame by pointing out that there had twice been record losses (in the top 10 of all time) under Roman Abramovich.

You can see their discussion in the clip embedded here:

In other news…

Maxi Araujo has been linked with Premier League teams, but we don’t think he will be coming to Chelsea soon.

Joao Pedro has admitted that one of his friends in the Chelsea squad is having a tough time after a crucial mistake.

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Check out the latest edition of Simon Phillips’ SPTC podcast here: