n n n ‘. concat(e. i18n. t(“search. voice. recognition_retry”),’n
In its first full season under the ownership of Todd Boehly and Clearlake Capital, Chelsea FC’s profits rose 6. 5% to a record $656 million (£512. 5 million at prevailing exchange rates).
The bad news for the 2022-23 season: Pre-tax losses totaled $115 million (£90 million), marking the third consecutive year of nine-figure deficits. £156 million in 2020-2021 and £121 million in 2021-2022.
More than Sportico. com
Sporticast 324: Is $405 billion a lot?
Man United-Ratcliffe deal gets Premier League approval
Man United Reports Record Profits, But On-Field Losses Hurt Forecasts
Despite the losses, Chelsea say it continues to comply with UEFA and Premier League monetary regulations. The EPL’s Financial Fair Play regulations restrict the amount teams can lose over a three-year period, and the league has accused Everton and Nottingham Forest this season of violating the rules of the league.
Chelsea have spent more than $1 billion on transfers since Boehly took over the club in May 2022 for a valuation of $3. 2 billion with a promise to spend another $2. 2 billion on investments in the organization. The club is still waiting for the result.
Chelsea finished 12th in the 2022-23 Premier League table, marking their worst result in 30 years and only the second time the team has finished away from home in the top six since the 1996-97 season.
The poor result on the pitch reduced broadcast profits due to a decrease in the Premier League’s payout, which is partly due to the year-end standings: Chelsea finished third in the 2021-22 season. It will also have an effect on the club’s performance. monetary effects for 2023-24, as Chelsea failed to qualify for the Champions League and its lucrative TV schedule, after back-to-back quarter-finals.
Chelsea are in eleventh position lately after winning just one of their last five games and will most likely miss out on the Champions League next season.
The club’s record profit is due to increased publicity and matchday profits. Last year, Chelsea were hit by government restrictions on the team when Russian owner Roman Abramovich was forced to sell the team following Russia’s invasion of Ukraine.
Commercial profit increased 19% to $269 million (£210 million) due to the renewal of new and existing partners. Off-game activities and stadium tours were buoyant as last year’s sales were hit by government restrictions.
The team’s monetary gains were boosted by the women’s team’s victory in the Women’s Super League and Women’s FA Cup, as well as reaching the final of the Women’s League Cup. Deloitte reported that Chelsea FC Women’s overall earnings for the 2022-23 season were $5. 2 million.
That of Sportico. com
Tennis Prize Money Tracker 2024: Which One Has Won the Most?
National Baseball Hall of Fame: How does it work?
Football Tournament Guide 2024: UCL, FA Cup, Olympics & More