Chelsea Football Club has reported a stunning pre-tax profit of £128.4 million for the financial year ending June 2024, marking a major financial turnaround under Todd Boehly’s Clearlake Capital ownership. This impressive gain comes after the club had suffered a pre-tax loss of £90.1 million in the previous financial year, according to BBC reports on Tuesday.
Despite this financial upswing, Chelsea’s total revenue dropped from £512.5 million in 2023 to £468.5 million, largely due to the men’s team missing out on Champions League football. However, the club attributed its newfound profitability to massive player sales and the restructuring of its women’s team, which has proven to be a game-changer.
In May 2024, Chelsea announced a groundbreaking move—transforming its women’s team into a separate business entity while keeping it within the broader ownership group. This restructuring not only secured long-term investment but also played a crucial role in the club’s financial success.
Player sales contributed £152.5 million to Chelsea’s revenue, while matchday earnings saw a steady rise to £80.1 million, up from £76.5 million the previous year. Commercial revenue also surged from £210.1 million to £225.3 million, driven by increased income from player loans and non-matchday activities.
A significant boost also came from Chelsea FC Holdings Ltd’s decision to sell two hotels to BlueCo 22 Properties Ltd—both entities under the Boehly-Clearlake umbrella—for £76.5 million. This move helped the club trim its losses to £89.9 million, avoiding a far steeper financial deficit of £166.4 million reported in the 2022-23 season.
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The sale of the women’s team to BlueCo could have been an even bigger game-changer, with estimates suggesting it contributed to a staggering £198.7 million listed as “profit on disposal of subsidiaries” in Chelsea’s accounts. Without these strategic moves, the club could have faced an alarming financial downturn.
Despite not featuring in European competitions this season and operating without a front-of-shirt sponsor, Chelsea remained aggressive in the transfer market, making significant signings. The full financial impact of the women’s team sale will only become clear when the club’s complete financial results are released on Companies House.
Chelsea maintains that it is fully compliant with Premier League financial regulations, but with UEFA’s stricter oversight, questions linger about whether European football’s governing body will scrutinize these financial maneuvers. Regardless, Chelsea insists the restructuring benefits the women’s team by bringing in much-needed investment while allowing it to operate as an independent entity.
With the club’s financial strategy proving to be a masterstroke, Chelsea’s bold moves could set a precedent for other top-tier football clubs looking to navigate financial challenges while remaining competitive on and off the pitch.
