Chelsea have incurred losses of more than £120 million over the last financial year.

The Premier League giants have been huge spenders in the transfer market under new co-owner Todd Boehly.

However, all that work may be coming at a price, with the Blues in a disappointing financial position.

Per The Times, Chelsea will now have to sell players before June 30th to avoid falling foul of the Premier League 's Financial Fair Play rules.

Clubs are only permitted to make certain losses over a three-year period according to those regulations.

Chelsea will likely have a fire sale of players who are surplus to requirements at the club.