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Chelsea record revenue but £90.1m losses raise PSR concerns

Chelsea have announced their annual financial results for 2022/23, showing a positive year in revenue generation. 

Chelsea FC Holdings Limited surpassed the £500 million mark, with turnover rising to £512.5m from £481.3m in 2021/22. 

The rise in revenue stemmed mainly from increased matchday and commercial income. 

The women’s team also won the Women’s Super League and FA Cup, and these trophies contributed positively to the coffers.

However, decreased broadcasting revenue due to the men’s team’s 12th-place Premier League finish and early cup exits offset those gains.

Commercial revenue grew to £210.1m. The figure was driven by strong sales of non-matchday activities and new and renewed sponsorships, but increased operational costs partially offset this growth. 

Chelsea’s financial accounts have revealed a pre-tax loss of £90.1m for the year ending June 30, 2023. 

They recorded a £121.4m loss the previous season. The losses have raised concerns about the club’s ability to meet Premier League and UEFA financial regulations.

Chelsea’s parent company, BlueCo 22, reported a stunning £653m loss for the period between March 2, 2022, to June 30, 2023.

These pre-tax losses raise major concerns that Chelsea could potentially breach financial regulations.

The belief is that the Blues must sell many assets to generate cash. They have tried to sell Conor Gallagher, Trevoh Chalobah and Armando Broja to balance their books. 

Despite the losses, Chelsea have insisted that they are in line with Premier League Profitability and Sustainability Rules (PSR) and UEFA’s Financial Fair Play (FFP) regulations.

PSR allows all clubs to make a maximum loss of £105m over three years. 

Chelsea’s rivals believe they must raise at least £100m by June 30 to avoid breaching financial regulations, but the club has disputed that notion.

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