Chelsea made a loss of £23.1 million in the 2014-15 season, during which the club won the Premier League and the Capital One Cup.
The west London outfit announced its financial results for the year ending June 30, 2015, on Monday, and despite its losses, it maintained in the statement that the club remains "comfortably within the allowable limits" of UEFA’s financial fair play regulations.
Revenues amounted to £314.3 million, and its losses contrasted starkly with the £18.4 million profit the club made in the previous year, per Simon Johnson in the Evening Standard.
Johnson relayed the comments of Chelsea chairman Bruce Buck, who was quick to highlight the positives in the latest results:
Chelsea Football Club has been consistent in our intention to comply with FFP and it was a primary aim in the past financial year to be one of the clubs with a continuous record of meeting the regulations, which we have achieved.
To record the second highest turnover figure in the club’s history despite the Champions League campaign ending at the earliest knockout round demonstrates our business is robust, and is testament to good work regarding our commercial activities, our growing fanbase around the world and the tremendous support the team received at home and away matches in 2014/15.
As noted by Buck, Chelsea's exit at the last-16 stage from the 2014-15 UEFA Champions League was a contributing factor to the disappointing financial results.
There will now be concerns over future financial figures considering the club's chances of qualifying for next season's Champions League are very slim. The Blues, owned by Russian billionaire Roman Abramovich, currently lie 15th in the Premier League and 12 points back from Arsenal in the fourth and final qualifying spot for Europe's top club competition.