Chelsea announce Profit for 2023/24 before tax

Chelsea has released their accounts for the 2023/24 financial year, declaring a profit before taxation of £128.4m compared to a loss of £90.1m for the previous year.

The “financial breakthrough” means the London Club ends a three-year loss-making streak.

These finances are earmarked for the entirety of Mauricio Pochettino’s only season in charge, going from July 1, 2023, to June 30, 2024, including last summer’s transfer window.

Chelsea’s new ownership was swift to complete a number of first-team sales in order to boost their numbers.

However, overall revenue in the year fell to £468.5m without European football at Stamford Bridge.

The club also started last season without a front-of-shirt sponsor, leaving a £40m hole after their deal with Three ended. Infinite Athlete eventually became partners and have since moved to become a sleeve sponsor.

This event has seen the club drastically turn around its financial fortunes compared to the previous set of accounts that saw the club make a loss of £90.1m in 2022/23.

In a statement released by the club, it gives a breakdown of the ground-breaking record, making significant references to key factors that have contributed to this success.

“Increased profit on disposal of player registrations and repositioning of Chelsea Football Club Women Ltd.

“This new approach will ensure CFCW has dedicated resources, management and commercial leadership solely focused on the growth and success of the women’s team.

“Overall revenue in the year fell to £468.5m due to the men’s team not competing in the Champions League.

“However, the club’s broadcasting receipts benefitted from an improved sixth-place finish in the Premier League and semi-final and final appearances in the FA Cup and League Cup respectively.

“There was a decrease in operational costs in the year, to offset the fall in revenue resulting in a stable operating loss in comparison to the previous year.

“The women’s team reached the semi-finals of the UEFA Women’s Champions League for the second consecutive year and were champions of the Women’s Super League to further boost the broadcasting receipts.

“Matchday revenue increased to £80. 1m as an average attendance of approximately 40,000 was maintained, and there were three more women’s team matches held at Stamford Bridge during the year.

“The growth in commercial revenue to £225.3m was driven by an increase in player loan income and strong sales of non-matchday activities, including stadium tours and merchandise sales.

“Decreased operating expenses, including matchday and non-matchday costs, profits on disposal of player registrations of £152.5m and a profit on disposal of subsidiaries of £198.7m, led to the group recording an overall net profit of £129.6m after tax.