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Chelsea Sells Women's Team to Blueco for Financial Recovery

On April 2, 2025, Chelsea Football Club announced a significant financial turnaround, reporting a £128.4 million profit for the 2023-24 season, a stark contrast to the £90.1 million pre-tax loss from the previous year. This turnaround was largely attributed to the sale of key assets, particularly the women’s team, which was part of a strategic repositioning aimed at enhancing resources and management for Chelsea FC Women Ltd.

The club, acquired by Todd Boehly and Clearlake Capital in May 2022, had previously engaged in extensive player acquisitions, utilizing long-term contracts to amortize costs. However, recent changes to Premier League Profit and Sustainability Regulations (PSR) limited clubs to a maximum loss of £105 million over three years. Without the sale of the women’s team, Chelsea would have exceeded this limit.

The women’s team was sold to Blueco, a holding company linked to Boehly and Clearlake, just before the June 30 deadline for the 2023-24 accounts. This transaction allowed Chelsea to record the sale in their financial statements, significantly improving their financial outlook. While PSR rules permit asset sales to associated parties, this loophole may be scrutinized by UEFA in the future, especially in light of Manchester City’s ongoing compliance issues.

Despite the profit, Chelsea's overall revenue fell to £468.5 million from £512.5 million, primarily due to the men’s team not qualifying for the Champions League. However, the club benefited from broadcasting revenues linked to a sixth-place finish in the Premier League and strong performances in domestic cup competitions. Operational costs were also reduced, helping to stabilize losses compared to the previous year.

Matchday revenue rose to £80.1 million, supported by an average attendance of around 40,000 and an increase in women’s matches held at Stamford Bridge. Additionally, commercial revenue grew to £225.3 million, driven by higher player loan income and non-matchday activities, such as stadium tours and merchandise sales.

Chelsea reported substantial profits from player registrations, totaling £152.5 million, along with a £198.7 million profit from the sale of subsidiaries. This financial restructuring and strategic asset management have positioned Chelsea for future growth, although the implications of related party transactions may prompt further regulatory scrutiny.
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