Chelsea has fired three first-team members after it was determined that the club had a record-breaking yearly deficit of £262.4 million, according to reports. The Blues announced the enormous pre-tax deficit last month, and they have since laid off some of Liam Rosenior’s backroom personnel in an effort to balance the books, as pressure mounts on the manager.
According to The Sun, former Chelsea academy coach Ed Brand is among the three laid off. It is also stated that the owners made the layoffs upon confirmation of the massive losses detailed in the records for previous season.
Brand was a former academy player for the club before his career was cut short due to injuries. He has since worked behind the scenes at Cobham and, briefly, as Jody Morris’ assistant at Swindon Town.
Despite a massive pre-tax deficit, Chelsea are optimistic that they will fulfill the Premier League Profit and Sustainability (PSR) regulations and the aim for the first of four years of the tight UEFA settlement imposed on them.
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That is because a huge chunk of the prize money won from winning the Club World Cup last summer – as much as £65m – will be included in the figures. But if Chelsea miss out on Champions League football, the club could be in real financial trouble.
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