Roman Abramovich plowed $325 MILLION into Chelsea last season in show of commitment – but $35 million went on Conte sacking
Details of Chelsea’s 2018-19 accounts have revealed billionaire Russian owner Roman Abramovich pumped £247million (US$325 million) into the club for the period – but paid out over £26 million in the sacking of Antonio Conte.
The Blues recently revealed that they had made a loss of almost £100 million during the last financial year (ending June 30, 2019).
More details of those figures have shown that – despite not attending a home match for more than a year after suffering visa woes following the Skripal spy poisoning scandal – Russian owner Abramovich invested to the tune of almost £250 million in 2018-19.
It will be taken as a sign that Abramovich, 53, remains committed to the club he has owned since 2003, amid speculation of interest from a number of potential domestic and foreign buyers, including US baseball billionaire Todd Boehly.
Among the significant expenses for 2018-19 was the £26.6 million outlay in compensation and legal fees related to the sacking of Italian manager Antonio Conte and his coaching team in July of 2018.
Former Juventus and Italy boss Conte, 50, guided the Blues to the 2017 Premier League title in his first season in charge, but was dismissed a year later, sparking bitter legal wrangling with Chelsea over compensation.
"Exceptional items in the current year of £26.6m relate to changes in respect of the men's team management and coaching staff, together with associated legal costs," said Chelsea's 2018-19 accounts, as cited by Sky Sports.Also on rt.com Ex-Chelsea star reveals how he ‘NEARLY KILLED’ billionaire owner Roman Abramovich
The Conte payment means the club have now forked out more than £90m in compensation to sacked managers since Abramovich gained ownership of Chelsea a decade and a half ago.
Conte has since moved on to Inter Milan, while his replacement at Stamford Bridge, fellow Italian Maurizio Sarri, lasted just a single season before the mutual decision to part ways as he headed to Juventus.
Frank Lampard is currently in charge as the midfield playing legend oversees a focus on youth in the team.