CHELSEA SUFFERS SIGNIFICANT LOSS

Chelsea FC has reported a pre-tax loss of £90.1m for the 12-month period ending on 30th June 2023, the club’s annual financial accounts revealed.

Although this figure marks a reduction from £124m last year, and £156m the year previous, Chelsea has now recorded overall losses for each of the last three seasons.

The latest report marks the first full-year since Chelsea’s takeover by a consortium led by LA Dodgers owner Todd Boehly in May 2022. 

Meanwhile BlueCo 22 Limited, the company set up by Boehly and Clearlake Capital when the consortium first acquired the club, has disclosed a loss of £678.2m for the last year.

The club says it will continue to comply with UEFA and the Premier League’s regulations regarding financial fair play. The English top-flight prohibits teams from making losses of more than £105m over three years as part of its Profit and Sustainability rules.

Chelsea delivered record revenue of £512.5m for 2022/23, which is up from £481.3m from last year and sees the Blues surpass £500m for the first time.

Commercial revenue rose to £210.1m for the last year, due to an uptick in sponsorship revenue and strong sales of match-day activities at Stamford Bridge. These had been restricted in 2022 as part of the Government’s sanctions against the club’s former owner Roman Abramovich following Russia’s invasion of Ukraine.

Increases in income were also partially driven by the successes of Chelsea’s women’s team, which clinched both Women’s Super League (WSL) and Women’s FA Cup titles last season.

However, this was offset by the men’s team’s 12-placed finish in the Premier League, paired with early exits from the FA Cup and Carabao Cup competitions, and a decrease in broadcast rights revenue.

Over the last year, Chelsea raised £142.2m in ‘disposal of player registrations and fixed assets’, which contributed to the decrease in operational costs.