Chelsea state a change in manager as well as a record outlay on players was the cause of the financial deficit

Chelsea recorded a loss of nearly £100m for the year ending June 30 as the club released their latest financial results.

However, despite the figures, the Blues insisted they are still compliant with UEFA's Financial Fair Play regulations.

Turnover grew marginally to £446.7m with the club citing a lack of Champions League football, costs associated with changing manager and a record outlay on players Kepa Arrizabalaga, Christian Pulisic, Mateo Kovacic and Jorginho for the £96.6m loss.

0:54 Chelsea boss Frank Lampard says the club can't be too 'reactionary' in the January transfer window after having their ban lifted Chelsea boss Frank Lampard says the club can't be too 'reactionary' in the January transfer window after having their ban lifted

Chairman Bruce Buck said: "Consistent revenue growth and careful financial management over recent seasons has allowed the club to make significant levels of investment in the playing staff whilst maintaining compliance with UEFA Financial Fair Play regulations.

"This has contributed to another Europa League victory at the end of the 2018-19 season and a return to the highest level of European competition.

"This solid commercial foundation, allied to a young and exciting team now led by Frank Lampard, means that the club is well placed to sustain its pursuit of success both on and off the pitch as well as maintain its financial stability over the coming years."

How to follow the January transfer window

Sky Sports will bring you the very latest news from the January transfer market with the return of three shows.

Start your day with Good Morning Transfers at 9am as our team of reporters bring you the latest news and insight. Transfer Talk then follows at midday delivering analysis of the biggest stories. Then join us at 7pm for the definitive round-up of the day's news with The Transfer Show.

Meanwhile, the Transfer Talk podcast will also be back at the turn of the year with more expert analysis from here and across the continent.

And as well as tuning into Sky Sports News, don't miss a thing with our dedicated Transfer Centre blog.