Chelsea's parent company, 22 Holdco Ltd, has posted losses of over £1bn in the past two seasons according to its latest financial accounts.
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- Losses driven by "player investment"
- Group holds more than £1bn in debt
- Chelsea posts profit thanks to sale hotel and women's team
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WHAT HAPPENED?
22 Holdco also owns French club RC Strasbourg and Chelsea women's team. Their total losses last season amounted to £445.5m, and £653m the year before. These losses were "driven by investments in the playing squads", per The Times.
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THE BIGGER PICTURE
Chelsea reported a £129.6m profit over the same period, however, some of the club's financial tactics have come back to bite them. Premier League financial rules allows the club to register the £200m sale of the women's side to a sister company, and the sale of two hotels for £76.5m as profit. However these transactions cannot be registered as income for the parent company in its dealing with the tax office.
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DID YOU KNOW?
22 Holdco are also paying significant interest on more than £1.16bn of debt. In 23/24, the company paid more than £94m in interest on their borrowings.
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WHAT NEXT FOR CHELSEA?
Chelsea's fans and playing staff will want to put the noise of this story behind them. The men's team are battling to reach next season's Champions League, and play Ipswich on Sunday afternoon. The women's team takes on Liverpool in the semi-final of the FA Cup on Saturday.
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