Chelsea Records £128.4m Profit After Historic 2024 Women’s Team Sale
Chelsea reported a pre-tax profit of £128.4 million ($165.83 million) for the year ending in June 2024, despite experiencing a decline in revenue. This positive result was primarily due to the repositioning, essentially a sale, of their women’s team, as announced by the Premier League club on Monday.
This profit follows a loss of £90.1 million ($116.3 million) in the previous year, marking the first year under the ownership of the consortium led by Todd Boehly. The women’s team was transferred from Chelsea FC Holdings Limited to BlueCo, Boehly’s consortium, in June 2023. This transfer eliminated any associated losses with Chelsea Women from the club’s accounts, allowing Chelsea Holdings to benefit from the payment made by BlueCo.
The profit from the disposal of subsidiaries amounted to £198.7 million ($256.6 million), and the profit from the sale of player registrations totaled £152.5 million ($197 million).
2024 Women’s Team Sale Brings Chelsea £128.4m in Profits
Chelsea’s overall revenue decreased from £512.5 million ($662 million) in 2023 to £468.5 million ($605.2 million), which the club attributed to the men’s team not competing in the Champions League. However, broadcasting receipts increased due to their sixth-place finish in the Premier League and successful cup runs, and operational costs were reduced alongside growth in commercial and matchday revenue.
The women’s team is currently leading the Women’s Super League (WSL) table this season, while the men’s team is in fourth place in the Premier League with nine games remaining.
In contrast, fellow Premier League club Everton reported a loss of £53 million ($68.44 million) for the 2023-24 season, marking the seventh consecutive year in deficit. However, Everton will avoid breaching the league’s profit and sustainability rules. Despite this reduction from the £89.1 million loss recorded the previous year, the club’s total losses over the past seven years have reached £570 million.
Last season, Everton faced an eight-point deduction for two separate breaches of the profit and sustainability regulations during the rolling three-year periods, which included the 2021-22 and 2022-23 campaigns. In January, the league confirmed that all clubs, including Everton, complied financially for the 2023-24 season, and no further charges would be imposed.
