Chelsea FC reveals financial loss of $114.8M for 2023 under Todd Boehly's ownership, complying with UEFA and Premier League regulations. (Getty Images)
Chelsea Football Club, in its inaugural financial report under the ownership of Todd Boehly and Clearlake Capital, has revealed a loss of $114.8 million for the fiscal year ending June 30, 2023. This marks a decrease from the previous year's loss of over $155 million. Despite the financial setback, the club assures compliance with financial regulations set by UEFA and the Premier League.
The club attributed the rise in turnover to increased matchday and commercial revenue, as well as the success of the women's team in various competitions. However, these gains were offset by decreased broadcasting revenue, primarily due to the men's team's performance in the Premier League and domestic cup competitions.
In light of recent scrutiny on profit and sustainability regulations, clubs are permitted around $134 million in losses over a three-year period. Everton faced repercussions earlier in the season with a 10-point deduction, later reduced to six points, for violating these regulations. Further penalties loom for Everton and Nottingham Forest, who have exceeded the permissible thresholds for losses.
BlueCo 22 Ltd, Chelsea's parent company which also owns French club RC Strasbourg Alsace, reported a net loss of $833 million for the year. A significant portion of this expenditure, $83.4 million, was allocated to the acquisition of RC Strasbourg Alsace, now under the guidance of Patrick Vieira.
Boehly and Clearlake Capital's consortium took over Chelsea FC following the sanctions imposed on former owner Roman Abramovich by the UK government in response to Russia's actions in Ukraine.
