CHELSEA’S owners have lost £1billion over the last two seasons despite the club posting profits.
The Blues are controlled by chiefs Todd Boehly and Behdad Eghbali via parent company 22 Holdco Ltd.
1
The business, which also owns the Chelsea women’s team and French side Strasbourg, have posted worrying figures in their latest accounts.
This season they have lost a whopping £445.5m and it comes after they ended the previous year on minus £653m.
Over two years of trading, the company’s losses are at £1.1bn.
22 Holdco Ltd borrowed £967m and repaid loans of £317m this year, with them paying £94m in interest on their borrowings.
The accounts blame “investments in the playing squads” for the worrying financial report.
These figures come at a time when Chelsea posted profits of £129.6m over the 2023-24 season.
There is a difference between the finances of the holding firm and the club after the women’s side was sold to a sister company for £200m and two hotels at Stamford Bridge went for £76.5m.
Premier League rules allow Chelsea to register these transactions and it has helped them make a profit.
BEST FREE BETS AND BETTING SIGN UP OFFERS
However, the cash generated is not allowed to count as income for 22 Holdco Ltd when reporting to HMRC.
The sale of the women’s team and hotels assisted Chelsea in avoiding a breach of the Prem’s Profit and Sustainability Rules.
Teams are not allowed to lose over £105m over a three-year period and the regulations do not address associated party transactions after a change could not be agreed following a vote last summer.
However, Uefa have different rules and only allow a £75m loss over the same three-year period.
They also do not let associated party transactions count in the books.
Uefa are reportedly assessing Chelsea’s sale of the women’s team and they have previously dished out fines to clubs who have broken rules.
#Chelsea #owners #lose #1BILLION #years #club #reporting #130m #profit
Leave a Reply