So much here to unpick, but fuck me, they're the dodgiest fucking operation in world football.
Chelsea have announced the biggest pre-tax loss ever recorded by a Premier League club.
Chelsea's pre-tax loss of £262.4m for the year ending June 30, 2025 surpasses the £197.5m posted by Manchester City for the 2010/11 season.
The west London club posted a profit of £128.4m in the previous year’s accounts, boosted by the sale of the women’s team to Blueco Midco – a subsidiary company – for almost £200m.
The club said the losses were attributable in part to increased operating costs in 2024-25 compared to the previous year.
Revenue was £490.9m, the club said, the second-highest on record for the Blues, and included some of the money earned from last summer’s triumphant Club World Cup run.
Chelsea were deemed compliant with the Premier League’s profitability and sustainability rules (PSR) for the three-year period ending 2024-25. The rules allow for maximum losses of £105m over three years, but some of the losses clubs post in their financial reports can be added back under PSR – spending on infrastructure, youth development and women’s football for instance.
Chelsea also announced on Wednesday that their women’s team (Chelsea Football Club Women Ltd) posted a loss of £17.1m, despite generating £21.3m in revenue.