Chelsea reveal £90.1m pre-tax loss in first year under new owner

By Our Reporter On Mar 7, 2024 0

Chelsea have revealed a pre-tax loss of £90.1m in the first full year under the club’s new ownership.

Accounts filed by Chelsea’s parent company revealed the loss for the 12-month period to June 30, 2023.

Chelsea had suffered a loss of £121.4 million the previous year.

The losses will raise further doubts about Chelsea’s ability to comply with the Premier League’s profit and sustainability rules (PSR).

The rules limit clubs to losses of £105m over a three-year period.

Clubs can spend money on infrastructure, women’s teams and academic costs, which will contribute to the losses considered in the PSR.

Chelsa’s total revenue grew to £512.5m, with profits from player sales and fixed assets rising to £142.2m.

Kai Havertz was a notable sale during that period, with the Germany international moving to Arsenal for £65million last June.

The accounts confirmed that Chelsea have made player registrations worth a total of £744 million for the period ending June 30, 2023.

Chelsea’s parent company said the group has since registered 22 players at an initial cost of £454.8 million since the end of the period.

The additions take their total transfer spend to £1.2bn since taking over the club.

BlueCo 22, the company created by Clearlake Capital and Todd Boehly to buy the Blues, confirmed a loss of £653 million since inception.

The figure covers the period between March 2, 2022 and June 30, 2023.

Christopher Nkunku among the players signed since the period included in the accounts

BlueCo 22 officially completed its acquisition of Chelsea in May 2022, with the consortium created two months earlier.

The group has since bought Ligue 1 side Strasbourg for an asking price of £64.9m.

“The group reports a pre-tax loss for the period of £678.2m, driven by investment in Chelsea’s men’s and women’s squads,” the accounts said.

‘During the period, the group posted revenue of £534.7m, driven by commercial, broadcasting and Chelsea matchday revenue.

“The group declares net assets at the end of the period of £1.797 million and net current liabilities of £0.1 million.”