Chelsea's accounts reveal true size of wage bill
Wed 14th Apr 2010 | Money & Finance
According to their latest accounts, Chelsea's wage bill in the last financial year was £142.6 million while the value of the club's squad, dropped by nearly £40 million as reported by Inside World Football.
The figure is revealed in Chelsea's accounts for the financial year ending June 30 last year, which were submitted to Companies House last week.
The accounts reveal that the value of Chelsea's squad of superstars has dropped from £287.1 million to £247.5 million - a reduction of £39.6 million.
Chelsea did not reveal these figures when announcing their financial results in December, when a pre-tax loss of £44.4 million was presented as a sign that the club was becoming more self-sufficient.
The previous year's debts had been £65.7 million, which in itself was a reduction from the two previous years.
Chelsea’s overall wage bill for the last financial year was £155.2 million, but that included "exceptional items" of £12.6 million relating to termination payments made to Luiz Felipe Scolari, the former head coach, and his backroom staff when they were dismissed in February 2009.
The previous year’s figure was £160.6 million, but that was inflated by termination payments of £23.1 million to José Mourinho, Avram Grant and other members of the coaching staff.
It means that the club has paid a total of £35.7 million in compensation to coaches whose contracts have been terminated over the past two financial years.
Roman Abramovich, the club's owner, is said to be growing increasingly concerned about the large size of the club's wage bill and has ordered that things be brought back under control.
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