Football: Chelsea FC Record Loss!
By Prof Dr Ian Blackshaw
It has been reported that Chelsea FC recorded a pre-tax loss of £355 million (around €405 million) for 2024-25, which is the highest annual loss ever made by an English football club, and the second highest in European history, after the loss of £484 million (around €552 million) made by Barcelona FC in 2021.
Here are some of the key figures.
According to UEFA, Chelsea brought in £511 million (around €583 million), compared with the £746 million (around €851 million) of Manchester City FC.
The Chelsea income from ticket sales was the ninth highest in Europe, but £28 million (around €32 million) less than Liverpool FC, which was one place ahead of them.
The average amount Chelsea made per matchday was £1.2 million (around €1.37 million) less than Liverpool, who, again, were one place ahead of them.
Chelsea's matchday revenue was restricted by the capacity of Stamford Bridge of 41,798, which is only the 11th-biggest ground in the English Premier League, 34,000 smaller than Manchester United FC’s Old Trafford.
As regards commercial revenue, Chelsea were ranked 11th in Europe in 2025, producing £207 million (around €236 million), which was down £5 million (around €5.7 million) on 2024.
Chelsea also made far less from merchandising and kit sales than the five other wealthiest English Premier League clubs, generating £83 million (around €94.8 million), showing no improvement on 2024.
However, Chelsea performed well in comparison with their rivals in broadcast revenue, with participation and victory in the FIFA Club World Cup boosting income to £192 million (around €219 million), placing them second highest in Europe, behind Manchester City.
Outgoings were also part of the problem, as Chelsea were the sixth-highest spenders on wages in Europe, paying their players £388 million (around €443 million), £43 million (around €49 million) more than in 2024.
Chelsea also employ the highest number of full-time non-footballer employees at any club in England, with a staff of 1,169 people.
Their operating costs, which include utilities, transport, insurance, marketing, and administration, increased from £159 million (around €181.7 million) to £240 million (around €274 million), placing them fifth in Europe.
Also, their playing squad is the most expensively assembled in football history, costing £1.52 billion (around €1.73 billion), which is up 5% from 2024.
After a substantial fine of £27 million (around €31 million) in the summer of 2025 for breaching the UEFA Financial Sustainability Regulations, Chelsea remain under UEFA scrutiny.
However, they claim that they remain profitable on an operating basis, and comply with the UEFA Regulations, without the need to sell any of their star players in order to fulfil them.
Prof Dr Ian Blackshaw may be contacted by e-mail at ‘
