In August, Chelsea agreed to pay a club-record amount of £97.5 million to Inter Milan for Romelu Lukaku, yet they still owe the great bulk of that transfer fee to this day
Romelu Lukaku joined the Blues in August for a club-record £97.5 million, signing a five-year contract earning £200,000 per week. His return to Stamford Bridge has failed to bear fruit, with the Belgian striker scoring only 11 goals in 31 appearances in all competitions.
Following the UK government’s decision to fine owner Roman Abramovich, Chelsea’s decision to pay their highest ever transfer price suddenly seems to be difficult. Abramovich’s assets have been blocked, and Chelsea has been obliged to operate under stringent financial regulations while he attempts to sell the club he has controlled since 2003.
The Blues are now unable to sell tickets or merchandise, acquire or sell players, or issue new contracts, and they are also subject to match day restrictions. Chelsea has been struck even harder by the loss of sponsors Three and Hyundai, despite the fact that their special sports licence allows them to access television and prize money.
Chelsea Still Owe Inter Milan £71 Million Of Romelu Lukaku Transfer Fee Amidst Sanctions On Abramovich
The structure of the arrangement between the two clubs for Lukaku is revealed in Inter’s financial filings, which were made public when they refinanced debt to obtain funds recently.
Although Lukaku’s headline cost was generally reported to be £97.5 million, Chelsea is paying it down in five £19 million installments through a technique known as amortization, which is typical in sport.
The Blues paid the first installment last summer, but the remainder is payable to the financial institution from whom Inter obtained money, rather than the Italian club itself.
Chelsea still owes the majority of the transfer cost, and the most recent records for Fordstam Limited reveal that the problem extends beyond Lukaku.
In the year ending June 30, 2021, Fordstam, the business through which Abramovich has injected £1.5 billion into Chelsea, has £104 million in arrears to creditors due for payment.
The same accounts, though, reveal the other side of the coin: Chelsea’s strong track record of selling players. As a result, the Blues are anticipating £167 million in revenue from teams that are paying installments for players they have purchased.
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