Chelsea Turns Financial Corner with Women's Team Restructuring and Player Sales
Source: news.source.channelnewsasia
Chelsea Football Club has reported a pre-tax profit of 128.4 million pounds for the year ending June, a significant turnaround from the previous year's loss of 90.1 million pounds. This profit was achieved despite a drop in overall revenue, attributed to the men's team not participating in the Champions League. Key factors contributing to the profit include the strategic repositioning of the women's team from Chelsea FC Holdings Limited to BlueCo, owned by Todd Boehly's consortium, and substantial profits from player sales. The club also saw an increase in broadcasting revenue due to a sixth-place finish in the Premier League and successful cup runs, alongside reduced operational costs and growth in commercial and matchday revenue.
Key Points
Chelsea reported a pre-tax profit of 128.4 million pounds for the year ending June.
The profit was influenced by the repositioning of the women's team to BlueCo, removing associated losses from Chelsea's accounts.
Player sales contributed significantly to the profit, with 152.5 million pounds from player registrations.
Overall revenue decreased from 512.5 million to 468.5 million pounds, primarily due to the men's team's absence from the Champions League.
Broadcasting revenue increased due to a sixth-place finish in the Premier League and successful cup runs.
Operational costs decreased, and there was growth in commercial and matchday revenue.
