Chelsea put losses of £121million in their latest financial records down to sanctions on former owner Roman Abramovich by the UK government.
The Blues posted their annual accounts, covering the 2021-22 season, showing significant losses in a period that included having to work under a special licence.
Abramovich was sanctioned by the UK government after Russia's invasion of Ukraine in February 2022, believing he had close ties with president Vladimir Putin and freezing the assets of several individuals as a result.
That saw Chelsea forced to operate under a special licence, which restricted the club from selling tickets, accept event bookings and signing contracts with players until Todd Boehly's takeover was completed on May 30, 2022.
In a statement on Monday, Chelsea added that these sanctions would be felt again "in the following years".
"The results for the year have been impacted by the sanctions placed on the club's previous owner on 10 March 2022," the statement read.
"As a result of the sanctions, the club was required to operate within the limitations of a special licence issued by the UK government. These restrictions were in place until the completion of the Club's sale on 30 May 2022.
"During this period, the Club was restricted in a number of areas including, but not limited to, its ability to sell matchday and season tickets, sell merchandise, accept event bookings, as well as sign contracts with players and commercial sponsorship partners, which collectively resulted in extraordinary expenses and loss of revenue.
"Furthermore, some of these limitations are also expected to have an impact on the financials in the following years due to the long-term impact from restrictions on entering into new contractual arrangements.
"Towards the end of the sanctioned period, the club was permitted to sell certain matchday tickets, with the Premier League committing to donate all revenue from these sales to charity. The restrictions were lifted following the change in ownership, and all operations have now resumed."
The Blues announced an overall net loss of £121.3m, though they confirmed they continue to meet the Premier League and UEFA's financial regulations.
Xavi commits U-turn and elects to stay at Barcelona
Barcelona head coach Xavi will continue in his role next season after an unexpected reversal of his decision to leave at the end of the 2023-24 campaign, according to widespread reports.
The former Barcelona midfielder announced in January that he would walk away from the job at the end of the current season, even though his contract was due to run until the end of the following term.
Xavi acknowledged the Barcelona role had taken its toll but reportedly changed his plans after a meeting with Blaugrana president Joan Laporta on Wednesday.
The 44-year-old was initially appointed as Barca coach in 2021 before leading the LaLiga giants to the top-flight title in the 2022-23 campaign.
Xavi's initial announcement of his intentions to depart Barcelona came after a tough period following defeats to Girona, Real Madrid and Athletic Club before revealing the news in the aftermath of a 5-3 loss to Villarreal.
The Blaugrana turned their fortunes around after that decision became public, though, going 13 games unbeaten across all competitions.
Unsurprisingly, that run encouraged Laporta, vice president Rafa Yuste and sporting director Deco to plead with Xavi to continue until the end of his agreed contract.
Though that undefeated streak ended with a 4-1 defeat to Paris Saint-Germain that dumped Barcelona out of the Champions League quarter-finals, Xavi has now agreed to stay in his role.
The league title is almost out of reach this term, however, as Real Madrid moved 11 points clear of second-placed Barca with Sunday's 3-2 Clasico victory.
Slot pursuit shows Liverpool running out of options, suggests Carragher
Liverpool's pursuit of Feyenoord boss Arne Slot proves there is "a dearth" of elite coaches currently on the market, according to former Reds defender Jamie Carragher.
On Wednesday, widespread reports claimed Liverpool have entered talks with Feyenoord, who will reportedly demand at least €10million (£8.5m) in compensation to part with Slot.
Slot joined Feyenoord in July 2021 after leaving AZ Alkmaar, leading the Eredivisie giants to the Europa Conference League final – which they lost to Roma – in his first campaign at the helm.
The club's second league title in 20 years followed in 2022-23, and though Feyenoord are set to relinquish their crown to PSV this term, they beat NEC Nijmegen to lift the KNVB Cup on Sunday.
Xabi Alonso was thought to be Liverpool's primary target to replace outgoing boss Jurgen Klopp, but the former midfielder – who was also interesting Bayern Munich – has announced his intention to stay with Bayer Leverkusen.
Sporting CP's Ruben Amorim was also linked with the post, but it is thought he is no longer a leading candidate.
Speaking in his role as a Sky Sports pundit ahead of Wednesday's Merseyside derby between Liverpool and Everton, Carragher warned the job will be a major step up for Slot if he is appointed.
"What I would say is I think going from Feyenoord to Liverpool is a huge jump, and I think it shows at this moment that there's probably a dearth of real top managers out there," he said.
"Initially it was Xabi Alonso, it's only his first full season as a manager. Then there was talk of Ruben Amorim from Sporting, again he's only 39. Now Arne Slot looks like he's the favourite.
"I don't think it's like Rafael Benitez coming in, or Jurgen Klopp. Benitez came in off the back of two LaLiga titles and a UEFA Cup, Klopp had won a couple of league titles with Borussia Dortmund.
"Liverpool were in a different space back then, certainly the team I was part of with Benitez… we were a team looking to qualify for the top four. It was the same when Klopp came in.
"Liverpool are in a different area now, fancying themselves to challenge for the Premier League every season, and in next season's Champions League they'd expect to reach the quarter-finals at least.
"I think it's a huge jump but he's obviously a great coach with a great track record with the clubs he's been at so far. We'll see."
Premier League title race gets Man City's blood pumping - Guardiola
Pep Guardiola relishes the decisiveness of the Premier League run-in, as Manchester City prepare for another huge game in the title race.
The Citizens breezed past Luton Town 5-1 at the Etihad Stadium in their last outing in the competition, but were not in Premier League action at the weekend.
While they booked a place in the FA Cup final with a 1-0 win against Chelsea on Saturday, Arsenal went back to the summit by recording wins over Wolves and the Blues before Liverpool also leapfrogged Guardiola’s team with a 3-1 victory at Fulham on Sunday.
City, who will be without the injured Erling Haaland, face Brighton on Thursday, in what is one of their two games in hand on the Gunners.
Asked how he feels going into the final few games of the season with so much on the line, Guardiola said: “Every game is adrenalin. Every game is important. But yes it’s decisive. Every mistake or every step back makes it more difficult. It is what it is.
“We have been here in the last years fortunately many times so that’s why we know what we are playing for.”
Guardiola was also questioned about the criticism levelled at match officials after Nottingham Forest’s strongly worded statement following their 2-0 defeat at Everton on Sunday.
"Absolutely disagree. In every league in the world, this kind of thing will happen more and more, but of course, I never had doubts about that,” said Guardiola.
"They make a mistake, they feel bad. It's normal. When they do the job, they want to do it well. The game is so difficult, it is fast and quick, decisions have to be made in one instant. It's not easy.”
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