Chelsea could run out of money in 17 days, as accounts show they have just £16m in reserves.
According to the Daily Mail, Chelsea will today beg the government to ease the sanctions recently placed against them, as they risk running out of money. Recent accounts show that they have only £16m in the bank, with no money allowed to be spent until their ownership issues are solved.
Chelsea’s wage bill totals a whopping £28m a month, meaning that they will struggle to pay their players without the financial backing of Roman Abramovich. The £16m would effectively run out in just 17 days, with no money coming in through ticket or merchandise sales.
Three have announced that they have ended their sponsorship contract with Chelsea, and the likes of Nike, Hyundai and Zapp are also close to following suit. If the situation doesn’t get sorted swiftly, the club risk falling deep into financial trouble.
The future of Chelsea is unpredictable as it stands, with many players expected to leave the club in the summer. If Chelsea are unable to sign new players, it could be the end of the Chelsea we all know in recent years.
Before the backing of Abramovich in 2003, the London club weren’t the powerhouses of the Premier League we see today. Without help from the government in finding a fast solution, we could see the return of the pre-Abramovich Chelsea.