Chelsea parent company BlueCo announces 653 million pounds net loss

Chelsea's parent company, BlueCo 22, reported net losses of 653 million pounds ($832.71 million) after tax from March 2022 to June 2023, while the Premier League club lost 90.1 million pounds before tax, according to company filings.

BlueCo, led by American Todd Boehly and Clearlake Capital, bought west London club Chelsea in 2022, and in 2023 they agreed to become shareholders in French club Racing Strasbourg.

Chelsea's loss over the 12-month period was less than the previous year's 121.4 million pounds.

The club also saw an increase in matchday and commercial revenue after operating without the government restrictions imposed following Russia's invasion of Ukraine, when former Chelsea owner and Russian billionaire Roman Abramovich was sanctioned.

"Chelsea grew overall revenue to 512.5 million pounds, made profits on disposal of player registrations and fixed assets of 142.2 million pounds and increases in other income," the annual report said.

"This helped offset the increased operational costs seen in the year. This year saw an overall increase in turnover from 481.3 million pounds to 512.5 million pounds."

"Matchday revenue increased from 69.2 million pounds to 76.5 million pounds compared to the prior year," it added, with the average attendance at Stamford Bridge increasing to 40,002.

However, the men's team finished 12th in the Premier League, earning a lower domestic broadcasting share. Broadcasting revenue dropped 9.1 million pounds to 225.9 million pounds from the previous year.

Revenue also increased as a result of the women's team winning the Women's Super League and the Women's FA Cup, as well as reaching the Women's League Cup Final.

Commercial revenue increased by 33 million pounds to 210.1 million pounds, with the club seeing a net increase in sponsorship income from new and existing partner renewals.

"Despite the loss in the year and the continued fallout from the sanctions placed on the club in the prior year, the club continues to comply with UEFA and Premier League financial regulations," Chelsea added.

SportsLigue