Chelsea have transfer debts worth staggering £104 million including £71 million for 28-year-old: Reports

It has been recently revealed that Chelsea still have transfer debts amounting to a staggering £104 million. The majority of the debt is believed to be for a club-record deal with Inter Milan for the signature of striker Romelu Lukaku last summer.

The Blues spent a club-record £97.5 million fee to bring Lukaku back to Stamford Bridge after seven years. However, the Blues are yet to pay £71 million for the deal as per The Sun.

The English capital club have declined to comment on the details of the deal. But some information regarding it is available as Inter made it public when they refinanced their massive debts earlier this year.

Inter Milan are not due to receive the entire transfer fee of Lukaku until later this year but not directly from the Blues. The deal to bring Lukaku back to Stamford Bridge appears to have been split into five installments worth around £19 million each. The Blues paid the initial installment rightaway.

The Serie A holders then arranged a forward-funding agreement with an unnamed financial institution to receive more money sooner.

This means that the West London club are yet to pay the remaining amount of the deal to the institution instead of Inter.

For clubs like Inter Milan, who are going through financial struggles, such deals are common practice. The Nerazzurri had received £18.4million from the institution by September 2021, with almost £71 million yet to be paid over the year.

It is not clear how many payments Chelsea were supposed to make to the institution during this campaign.

Accounts for the company through which Roman Abramovich still owns Chelsea and its various subsidiaries, Fordstam Limited, still have a total of £104 million of debt. It is reportedly due to be cleared by June 30 of 2021. The Blues are themselves due to receive a fortune as well.

It is understood that the London giants are expected to get £167million in sell-on fees from clubs buying their former players.

Whoever takes over from Abramovich at Stamford Bridge will have to inherit the club with a lot of liabilities.

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Can Chelsea survive the hardships?

Chelsea have tasted plenty of success since 2003 under the ownership of Roman Abramovich but find themselves in a complete mess right now.

Abramovich's assets were frozen by the UK government this week in light of Russia's invasion of Ukraine. The oligarch has close ties to Russian President Vladimir Putin. However, the UK government provided the Blues with a special license to continue football operations.

We have to wait and see whether the club can weather the storm and rise up through the challenges.

Thomas Tuchel's side have done pretty well up until this point and the fans will hope that they can keep up the good work. They sit in fourth position in the Premier League. They have also won the Club World Cup and the Supercup this season.