Stefan Borson
Tue 11 March 2025 10:32, UK
Chelsea’s owners have faced various questions over the past couple of years following their heavy spending at Stamford Bridge.
BlueCo, which is spearheaded by Todd Boehly and Clearlake Capital, has spent more than £1billion on new signings since securing its £4.25bn takeover in May 2022.
The London giants’ latest published accounts for 2022-23 revealed their operating losses stood at £218million before player-trading profits and other asset sales were factored in.
Chelsea sold two Stamford Bridge hotels to BlueCo in 2023 for a total of £76.5million to ensure their pre-tax losses fell from potentially as high as £166million to £90million for 2022-23.
Under the profit and sustainability rules (PSR), top-flight clubs can lose a maximum of £105million over a rolling three-year period.
A new Uefa report revealed Chelsea’s revenue dropped from £513million in 2022-23 to £435million last season, while their pre-tax losses stood at £93million across the same period.
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In a further attempt to offset their major losses for 2023-24, Chelsea sold their women’s team to BlueCo in June last year in a deal believed to be worth in excess of £150million.
Finance expert Stefan Borson exclusively told Football Insider the west London club will need to make some “very big” sales again to pass the PSR test.
Chelsea have a £50million hole in their accounts this season after failing to land a front-of-shirt sponsorship deal.
Chelsea are facing financial issues after heavy losses
Borson believes Chelsea are facing financial issues after questioning what else the club could sell to cover their £200-250million worth of losses.
He told Football Insider: “Chelsea are involved in some radical financial performance as they look to build the business going forward and get themselves back in the Champions League.
“This season, they have no front of shirt, which we know is a very expensive property that’s empty.
“We know that the three-year rolling PSR test in the Premier League continues next season, so the chances are they’ve got to find some very big sales again.
“They have got to somehow fill that £200-250million loss per season at the operating level. The only way of filling that is by selling players or selling other assets and making paper profits. It’s just that there is no other way.
“I don’t know what they’ve got left to sell internally. I don’t know what other mechanisms they could use. I don’t know who else youth player wise they could sell to make very substantial profits.
“All of this we will see over time, but it does look like the issues are there.”
Chelsea
Chelsea are in pole position to sign Jobe Bellingham
Football Insider revealed on 11 March Chelsea are in pole position to sign Jobe Bellingham in the summer transfer window.
Sunderland will be forced to consider big-money offers for the 19-year-old if they fail to secure promotion to the Premier League this season, with Borussia Dortmund, Tottenham and Crystal Palace also interested in signing him.
Appearances (Starts) 32 (32)
Minutes Played 2848
Goals 4
Assists 3
Yellow Cards 8
Red Cards 1
Bellingham’s Sunderland stats in the 2024-25 campaign
The England Under-21 international has made 32 Championship appearances in this campaign, registering four goals and three assists.
The midfielder has already racked up more than 100 senior appearances after coming through the ranks at Birmingham City before leaving St Andrew’s in 2023.
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