Chelsea Football Club has reported a pre-tax profit of £128.4 million for the financial year ending June 2024, marking a significant recovery after posting a £90.1 million pre-tax loss the previous year. The improvement is largely attributed to player sales totaling £152.5 million and the strategic repositioning of the club’s women’s team.

The club’s latest financial results, released on Monday evening, highlight the positive impact of player transfers and changes to the women’s team structure under the ownership of Clearlake Capital and Todd Boehly. Chelsea’s pre-tax profit of £128.4 million represents a sharp turnaround from their financial position in the previous year, which was their first under new ownership.

A key factor in the club’s financial success was the disposal of the women’s team to Chelsea’s parent company, BlueCo 22 Midco, in the summer of 2023. This move generated a profit on the disposal of subsidiaries of £198.7 million. Chelsea emphasized that this restructuring would allow the women’s team to benefit from dedicated resources and leadership, specifically aimed at supporting its growth and success moving forward.

“We are focused on ensuring that CFCW (Chelsea FC Women) has the necessary resources, management, and commercial support to thrive,” the club said in a statement.

Chelsea also saw a slight increase in matchday revenue, rising to £80.1 million from £76.5 million in the previous year. This increase was attributed to a steady average attendance of 40,000 fans at Stamford Bridge, as well as additional women’s matches hosted at the stadium.

In addition, the club’s commercial revenue grew from £210.1 million to £225.3 million, driven by increased income from player loan deals and strong sales in non-matchday activities, including merchandise and stadium tours. However, despite these positive developments, Chelsea’s overall revenue declined slightly from a record £512.5 million in 2022/23 to £468.5 million in 2023/24. The drop in revenue was mainly due to the absence of Champions League football, as the club missed out on European competition this season.

Although overall revenue decreased, Chelsea highlighted that the reduction was offset by a decrease in operational costs, leading to a stable operating loss compared to the previous year. The club’s broadcasting receipts benefited from their sixth-place finish in the Premier League, as well as strong performances in both domestic cup competitions—the FA Cup and Carabao Cup—and the success of the women’s team. Chelsea Women not only claimed the Women’s Super League (WSL) title but also reached the semi-finals of the Champions League for the second consecutive year.

In summary, Chelsea’s financial results for the 2023-24 season reflect a positive shift, with key sources of income such as player sales and commercial ventures helping to offset the challenges of missing out on European football. The club remains focused on future growth, especially through its women’s team and non-matchday activities, as it seeks to continue improving its financial position in the coming years.