Chelsea Football Club has reportedly posted a £128.4 million ($165.8 million) pre-tax profit for the financial year ending June 30, 2024, thanks to the sale of their women’s team to their parent company, BlueCo 22 Midco Ltd. This move has allowed the club to comply with the Premier League’s profit and sustainability rules, avoiding a breach.
The women’s team, which is believed to be valued at upwards of £150 million ($193.7 million), was sold to the parent company last year. This strategic maneuver was key to maintaining financial balance and ensuring Chelsea did not break any financial regulations. However, while the Premier League rules are satisfied, Chelsea may still face scrutiny from UEFA, as Europe’s governing body prohibits clubs from counting income generated by selling assets to related companies.
Chelsea’s overall revenue for the year fell to £468.5 million ($605 million), primarily due to the men’s team missing out on Champions League qualification. Nonetheless, commercial revenue grew to £225.3 million ($291 million), driven by an increase in player loan income and strong sales of non-matchday activities, including merchandise and stadium tours.
Fans and analysts will be keen to see the club’s full financial accounts for 2023/24, as the latest statement does not provide the complete financial picture. While Chelsea has met Premier League requirements, UEFA’s response to the sale could yet impact the club’s financial standing in European football.
