Chelsea announce £90.1m pre-tax loss to pose fresh doubts over complying with Premier League sustainability rules… as spending on transfers hits £1.2billion under Todd Boehly

Chelsea have revealed a pre-tax loss of £90.1m in the first full year under the club’s new ownership.

Accounts filed by Chelsea’s parent company revealed the loss for the 12-month period through to June 30, 2023

Chelsea had made a loss of £121.4m the previous year.

The losses will raise further doubts over Chelsea’s ability to meet the Premier League’s profit and sustainability rules (PSR).

The rules limit clubs to losses of £105m over a three-year period.

Chelsea recorded an increase in turnover to £512.5m, up from £481.3m the previous year.

The club’s overall revenues grew to £512.5m, with profits on player sales and fixed assets reported at £142.2m. 

The accounts confirmed Chelsea have made player registrations worth a total of £744million for the period ending on June 30 in 2023.

Chelsea’s parent company said the group has since registered 22 players at an initial cost of £454.8m since the period ended.

The additions take their overall spending on transfers to £1.2 billion since their takeover of the club.

BlueCo 22, the company set up by Clearlake Capital and Todd Boehly to buy the Blues, confirmed a loss of £653million since its establishment.

The figure covers the period between March 2, 2022, through to June 30 in 2023.

BlueCo 22 officially completed a takeover of Chelsea in May 2022, with the consortium having been set up two months prior.

The group have since bought Ligue 1 side Strasbourg for an initial price of £64.9m.

‘The group reports a loss before tax for the period of £678.2m, driven by investment in Chelsea’s men’s and women’s player squads,’ the club stated.

‘For the period, the group reported revenue of £534.7m, driven by commercial, broadcasting and matchday income from Chelsea.

‘The group reports net assets as at the end of the period of £1.797m and net current liabilities of £0.1m.’