Sale to Blueco helps club rebound from UK£90.1m last year and avoid potential penalties.
- Women’s team sale had faced Premier League scrutiny
- Chelsea revenues fell to UK£468.5m
- Aston Villa posts heavy net loss of UK£85.4m
The sale of Chelsea’s women’s team to the club’s parent company helped the men’s club post a net profit of almost UK£130 million (US$167.6 million) during the 2023/24 season.
A statement on the Blues’ website did not specify the amount paid by Blueco, the holding company used in Todd Boehly and Clearlake Capital’s takeover three years ago, but said “profit on disposal of subsidiaries” was UK£198.7 million (US$256.9 million).
Along with player sales of UK£152.5 million (US$197.2 million), the divesture helped the club record a net profit of UK£129.6 million (US$167.5 million), compared with a loss of UK£90.1 million (US$116.5 million) in the previous year.
A Companies House filing on 11th July last year stated that as of 28th June – two days before the end of the accounting period – Blueco Midco was now “a person with significant control” of Chelsea Football Club Women Ltd, with a separate filing on the same date marking the cessation of Chelsea FC Holdings – the company linked to the men’s team – having significant control on 28th June.
Chelsea says the transfer of ownership will “ensure CFCW has dedicated resources, management and commercial leadership solely focused on the growth and success of the women’s team”. However, critics have suggested the move was designed to ensure complied with the Premier League’s Profit and Sustainability Rules (PSR).
The sale of club-owned assets to a related company is allowed under Premier League rules but must be for fair market value. The transaction did trigger an assessment of the sale by the Premier League under its associated party transaction (APT) rules. A move to bring in an outright ban on such sales was narrowly voted down at the league’s annual general meeting last June.
Chelsea’s accounts show total revenues fell by UK£468.5 million (US$606 million) over the 12-month period due to an ongoing absence from the men’s Uefa Champions League. Chelsea have spent over UK£1 billion (US$1.29 billion) on transfers since the Boehly and Clearlake takeover in May 2022.
Several other Premier League clubs also announced their financial results for the 2023/2024 year. Nottingham Forest earned record revenues of UK£189.6 million (US$245 million), which helped the team declare a net profit of UK£12.1 million (US$15.6 million). This marks the first time that Forest have posted a profit under Evangelos Marinakis’ ownership.
Elsewhere, Tottenham Hotspur saw their revenue decline by four per cent year-over-year (YoY) to UK£528.2 million (US$682.4 million). Missing out on European soccer had a major impact, as they competed in the Champions League the year before. The club posted a net loss of UK£26.2 million (US$33.8 million).
Fellow London outfit Fulham declared a net loss of UK£33.4 million (US$43.1 million), a slight increase on the previous year’s deficit of UK£26 million (US$33.6 million). Turnover was largely flat, with the club earning UK£181.6 million (US$234.6 million).
Aston Villa narrowed their losses from UK£119.6 million (US$154.5 million) to UK£85.4 million (US$110.3 million). The Midlands club insisted that the figures are ‘in line’ with their strategic business plan, and that they continued to operate within PSR. Revenue did improve by 27 per cent YoY to UK£275.7 million (US$356.2 million), buoyed by a fourth-place finish in England’s top-flight last season.
Meanwhile, Everton posted a loss of UK£53.2 million (US$68.7 million) for the financial year. The Merseyside club noted they had made progress, with turnover increasing by UK£14.7 million (US$19 million) to UK£186.9 million (US$241.4 million). The club said a new agreement on financing for its new stadium, along with new owners in The Friedkin Group, gave it a ‘stable and sustainable foundation’ going forward.
Credit: https://www.sportspro.com/news/chelsea-premier-league-profit-finances-losses-april-2025/