Chelsea scandal moves from disgraceful to something far far worse as new details emerge
Earlier this week The Times reported (see below) on the latest Chelsea accounts, after the headline figures were announced.
The American owners of the club having already in previous accounts pulled stunts like selling hotels that Chelsea own to themselves, to somehow stay within PSR (Profit and Sustainability RULES!).
For the latest accounts, the 2023/24 season, it was the Chelsea women’s team that was getting ‘sold’ by the owners and ‘bought’ by the same ownership group.
An accountancy move to try and somehow stay within allowed PSR losses over a three year period, despite the ridiculous amounts of money spent by these current owners.
The Chelsea women’s team was understood to have a turnover of only around £10m and not making a profit, yet somehow valued at £150m+ when the American owners sell it to themselves, to get around PSR.
Rather than Chelsea making a massive loss for 2023/24 that would take them well beyond the three years allowed losses under PSR, instead they actually make a large profit!
A joke, but not a funny one.
With the full Chelsea 2023/24 accounts now in the public domain, new details to emerge have shown the full extent of just how beyond belief the stunt that the Chelsea owners are now trying to pull.
These full accounts show that the Chelsea women’s team had revenues of £11.5m and a loss of £8.7m for 2023/24, this compared to the previous season (2022/23) when the revenues were £8.8m and losses £4.2m.
Yet despite these meagre revenues and significant losses for the Chelsea women’s team, Chelsea have admitted that they ‘sold’ the women’s team (to themselves) for £200m.
