Chelsea Loses 653 Million Pounds... Why?

The company that owns Chelsea announced net losses of 653 million pounds ($832.71 million) after taxes for the period from March 2022 to June 2023. The BlueCo consortium, led by American Todd Buhle and Clearlake Capital, bought the Chelsea club, located west of London, in 2022, while also reaching In 2023, an agreement was reached to become shareholders in the French club Racing Strasbourg. Chelsea's loss in the 12-month period was less than the £121.4m the previous year. The club has also increased its matchday and commercial revenues after operating without government restrictions imposed after the Russo-Ukrainian war, when former Chelsea owner and Russian billionaire Roman Abramovich was sanctioned. The annual report said: “Chelsea increased its total revenues to £512.5 million, achieving profits from the sale of player registrations and fixed assets worth £142.2 million and an increase in other revenues.” “This helped offset the increased operating costs we saw this year. This year saw an overall increase in turnover from £481.3 million to £512.5 million. He added: “Matchday revenues rose from £69.2 million to £76.5 million compared to the previous year.” ", with the average attendance at Stamford Bridge increasing to 40,002 spectators. However, the team finished a disappointing twelfth in the Premier League, resulting in a decline in local broadcasting share. Broadcast revenues fell by 9.1 million pounds to 225.9 million pounds compared to the previous year. Revenues also increased thanks to the women's team winning the Women's Super League and FA Women's Cup, while also reaching the Women's League Cup Final.Commercial revenues rose £33m to £210.1m, with the club benefiting from a net increase in sponsorship income from partner renewals. New and existing ones. Chelsea added: “Despite the loss this year and the ongoing repercussions of the sanctions imposed on the club the previous year, the club continues to adhere to the financial regulations of UEFA and the English Premier League.”