UEFA expose Chelsea's financial woes as Blues offer response to 2024-25 statement | OneFootball

Chelsea recorded a €407m pre-tax loss, the highest in English football history, in 2024/25, according to financial data released by UEFA on Thursday.

Based on UEFA's previous financial report, Chelsea recorded a €111m (roughly £97m based on the current exchange rate) loss in the 2023/24 season, the second-highest deficit in Europe after Juventus.

It is, therefore, not a surprise that Chelsea continue to be among the bottom clubs in terms of profitability the following year.

However, the huge jump in loss from €111m to €407m (roughly £355m), would understandably raise a lot of eyebrows.

Bear in mind that, in 2023/24, Chelsea had no Champions League football either, while the following season, they at least had the UEFA Conference League to bring in some more revenues.

There are some obvious factors in the huge increase in loss, as revealed in UEFA's latest financial statement.

Chelsea saw an increase in player wages, from €395m to €445m, a significant 51 per cent increase in non-wage operating costs (OPEX), from €182m to €275m, and others.

This is despite the club's 13 per cent growth in overall revenues, from €519m to €585m.

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According to The Athletic, Chelsea are unlikely to receive greater penalties despite the huge loss, which was at €622m (£528m) in the rolling three-year financial period for UEFA purposes.

This, of course, far exceeds the €60m limit imposed by the football governing body in its Football Earnings rule.

This is reportedly due to the settlement agreement between Chelsea and UEFA last summer, in which the club also agreed to pay a €31m (£27m) fine for breaching two financial rules last year.

A Chelsea source also told The Athletic that the club is confident that "it is operating in line with the terms of the settlement agreement and other financial rules".

Chelsea will hope that revenues from the Champions League, as well as last summer's Club World Cup, could help the club turn a profit this season or at least significantly mitigate the losses.