Chelsea Football Club has reported a £23.1 million loss for their Premier League title winning season.
The Blues posted a record profit of £18.4m in the 2013/14 season. But revenues fell from another record of £319m to £314.3m.
"It was a primary aim in the past financial year to be one of the clubs with a continuous record of meeting the regulations," said chairman Bruce Buck.
Football clubs are bound by Financial Fair Play (FFP) restrictions which limit the amount of losses they can report. But Chelsea are set for a boost to their revenues this season, having agreed a new kit sponsorship deal with Japanese tyre manufacturer Yokohama worth £40m-a-season.
Mr Buck added: "These [higher revenues] will be powered by new commercial deals, including our record-breaking partnership with Yokohama.
"They will also be enhanced by revenues related to this season's Champions League which improve due to entering as Premier League champions and an increase in TV revenue for English clubs."