Old News: Chelsea's Loss for 2004.

Premiership leaders Chelsea made the 'biggest ever' loss in 2004. The club's wild spending on transfer fees lead to a record pre-tax loss of £88m having spent £175m on new players last season, more than doubling its annual payroll to £115m. In comparison, supposedly deep pocketed Man U had a wage bill of just over £42m in 2004 (although I once heard claims it was £92m).