Last updated on 24 minutes ago.
Roman Abramovich has been the owner of the club.
The losses were announced for the year to June 30.
The club won the European competition last season.
Their turnover went up due to an increase in broadcasting revenue.
The club said that playing games with no crowds because of Covid-19 and a reduction in profit on player sales were the main reasons for the loss.
The accounts show that the club owes more than $1 billion to related companies, and that Fordstam is a company owned by Roman Abramovich.
The company is dependent on Fordstam for its continued financial support according to the accounts. Fordstam has indicated support will continue for a long time.
If the financial impact of Covid-19 were even more severe, the club would need more funding from the club.
There were a record 103 players and staff testing positive for Covid in the seven days up to and including 26 December, but the clubs chose to go ahead with their festive fixtures.
The club decided an "impairment loss" of over 18 million dollars was necessary against the value of its squad due to legal matters.
The club say they have signed three players for a total of over 100 million dollars since June.
They say they have sold 13 players in the same period. If the outstanding clauses are all met, they could receive up to $16.4m.
