Chelsea FC Reports Significant Profit Following Sale of Womens Team to Parent Company

Chelsea Football Club has announced a remarkable turnaround in its financial fortunes, posting a pre-tax profit of £128.4 million for the financial year ending 30 June 2024. This shift comes after the club reported a pre-tax loss of £90.1 million the previous year, primarily under the management of Clearlake Capital and Todd Boehly. The latest financial results were submitted to Companies House by Chelsea FC Holdings Limited.

Despite a decline in revenue to £468.5 million due to missing out on the Champions League, the club cited significant contributions from player registrations and a strategic repositioning of Chelsea Football Club Women Ltd. Profits from player registrations reached £152.5 million, while the sale of subsidiaries contributed £198.7 million, leading to an impressive net profit of £129.6 million after tax.

The recent transaction involving the sale of the women’s team to the club’s parent company, BlueCo 22, is said to have been pivotal in helping Chelsea adhere to the Premier League’s profitability and sustainability regulations. Although this move has drawn scrutiny regarding fair market value and related transactions, Chelsea believes it will enhance support for the women’s team, ensuring it has resources and leadership focused solely on its success.

While the men’s team continues to grapple with its absence from elite European competition, operational costs have been adjusted to mitigate revenue losses. The club’s broadcasting income increased due to a sixth-place finish in the Premier League, coupled with appearances in the Carabao Cup final and FA Cup semi-final, despite the ongoing challenges.

Match-day revenue also saw an uptick, reaching £80.1 million, as plans are explored to potentially relocate from Stamford Bridge to a new venue at Earl’s Court. Tensions regarding stadium redevelopment strategies have surfaced, potentially complicating the partnership between Boehly and Clearlake.