Chelsea Football Club, owned by a consortium led by private equity firm Clearlake Capital and investor Todd Boehly, has reported a pre-tax profit of £128.4m for the year ending June 2024—marking a sharp recovery from the £90.1m loss in the previous year.

The turnaround was largely attributed to £152.5m in player sales and a strategic repositioning of Chelsea Women. In May 2024, the club announced the women’s team would operate as a standalone business, while remaining part of the broader BlueCo investment portfolio. This transaction may account for a significant portion of the £198.7m gain from subsidiary disposals listed in the latest accounts.

Chelsea’s restructuring comes amid growing scrutiny over financial sustainability in football. The club has stressed its compliance with Premier League profit and sustainability rules, although its standing with UEFA regulations has yet to be determined.

Despite reduced overall revenues due to the men’s team’s absence from European competition, Chelsea increased commercial revenue to £225.3m and matchday revenue to £80.1m, helped by stronger loan income and non-matchday activities.

The results follow Clearlake’s continued strategy of unlocking value through asset restructuring within its sports and media portfolio, as demonstrated by the club’s earlier hotel asset transfer, also within the BlueCo umbrella.