Chelsea have reported a pre-tax profit of £128.4m for the financial year ending 30 June 2024, a significant turnaround from the previous year’s pre-tax loss of £90.1m. This financial shift was largely attributed to player sales and the transfer of the women’s team to the club’s parent company.
The financial results, filed at Companies House by Chelsea FC Holdings Limited, mark a departure from the heavy losses sustained in previous years under the ownership of Clearlake Capital and Todd Boehly. Despite a drop in revenue to £468.5m following another season without Champions League football for the men’s team, the club benefited from increased profits on player transfers and the repositioning of Chelsea Football Club Women Ltd.
Profits on player sales totaled £152.5m, while the sale of subsidiaries generated £198.7m, leading to an overall net profit of £129.6m after tax. The transfer of the women’s team to BlueCo 22 was anticipated to aid compliance with profitability and sustainability rules (PSR), though the transaction has faced scrutiny regarding fair market value and associated-party regulations. The Premier League had previously approved Chelsea’s sale of two hotels at Stamford Bridge to BlueCo 22 for £76.5m.
The club stated that the women’s team sale would ensure dedicated resources, management, and commercial leadership focused solely on its growth and success. Chelsea Women remain on track to secure a sixth consecutive Women’s Super League title.
For the men’s team, performance under Clearlake and Boehly has been turbulent. The club has spent over £1bn on new signings while also actively selling players to raise funds. The sale of homegrown talents, such as Mason Mount, Ian Maatsen, and Christian Pulisic, was particularly beneficial as proceeds from academy products count as pure profit.
While missing out on the Champions League affected overall revenue, Chelsea saw an increase in broadcasting income due to a sixth-place finish in the Premier League and their participation in the Carabao Cup final and FA Cup semi-finals. Operational costs were reduced to counterbalance the revenue decline.
Match-day revenue rose to £80.1m, reflecting strong attendance figures. Meanwhile, discussions continue regarding a potential move from Stamford Bridge to Earl’s Court. Boehly has indicated that disagreements over stadium redevelopment plans could strain his partnership with Clearlake.
