Losses again. Chelsea published its annual financial report

The football club Chelsea has released its annual financial report for the year ending June 30, 2023.

On the club's official website, it was announced that for the first time in the group's history, turnover exceeded the £500 million barrier. This season marked the first full term under the leadership of Todd Boehly and affiliated companies.

"The growth in turnover was driven by increased matchday revenues and commercial receipts, partly due to the club's ability to operate without government restrictions, as experienced in the previous year," the report stated.

Additionally, commercial income increased to £210 million. Furthermore, the group recorded a profit from player and fixed asset sales amounting to £142.2 million. Consequently, this helped offset operational expenses observed during the previous year.

"Pre-tax losses reduced from £121.4 million in the previous year to £90.1 million in the 2022/23 season," Chelsea reported.

However, as noted by the club, they continue to adhere to the financial fair play rules of the English Premier League and UEFA.

It's worth mentioning that Aston Villa has also announced its financial situation for the previous season, which ended on May 31, 2023.