Chelsea has announced a dramatic financial turnaround, reporting a pre-tax profit of £128.4m for the financial year ending June 30, 2024. This marks a significant shift from the club’s £90.1m loss the previous year, largely attributed to strategic player sales and the sale of Chelsea Women to the club’s parent company, BlueCo 22.
Despite a dip in revenue to £468.5m following another season without Champions League football, Chelsea benefited from increased profits through player sales and restructuring. The club recorded a £152.5m profit from player transfers and an additional £198.7m from the sale of subsidiaries, contributing to an overall post-tax profit of £129.6m.
The sale of the women’s team to BlueCo 22 was expected to aid Chelsea in meeting the Premier League’s profitability and sustainability rules (PSR). However, the move has drawn scrutiny regarding fair market value and associated-party transactions, similar to the club’s previous sale of two Stamford Bridge hotels to BlueCo 22 for £76.5m. Chelsea maintains that the deal ensures Chelsea Women have dedicated resources to support their growth and success, with the team on track to secure their sixth consecutive Women’s Super League title.
While the women’s side thrives, Chelsea’s men’s team continues to face challenges under the ownership of Clearlake Capital and Todd Boehly. With over £1bn spent on new signings since the 2022-23 season, Chelsea has sought to balance their finances by selling academy graduates, including Mason Mount, Ian Maatsen, and Christian Pulisic—whose sales counted as pure profit under financial regulations.
Despite missing out on European competition, Chelsea’s financial outlook was bolstered by increased broadcasting revenue, a sixth-place finish in the Premier League, and deep domestic cup runs. Match-day revenue also rose to £80.1m. However, discussions about a potential move from Stamford Bridge to Earl’s Court remain ongoing, with Boehly hinting at tensions with Clearlake over stadium redevelopment plans.
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