"Chelsea have announced losses of £49.4m for last season. What a surprise."
Source (their financial reports just been released etc) ??
http://www.chelseafc.com/news-article/article/3597982/title/annual-financial-results-announced?
http://espnfc.com/news/story/_/id/1667080?&cc=5739
They'll "comfortably" pass the FFP regulations, according to their site. They actually make it by £3.5m, via various reductions.
Considering that they made a slight profit in the previous campaign and these things are done over the course of two seasons, they'll have to do some creative accountancy for the next one.
It'll never affect a side like that.