Chelsea on Wednesday reported a pre-tax loss of 262.4 million pounds ($349.49 million) during the 2024-25 season, the biggest annual loss in English soccer, surpassing the previous record loss of 194.9 million pounds posted by Manchester City in 2010-11.
The London-based club made a loss despite their revenue rising to 490.9 million pounds for the year ending in June 2025, as they finished fourth in the Premier League and won the Europa Conference League.
Chelsea FC Holdings had reported a profit of 128.4 million pounds for the 2023-24 season, after they sold their women’s team to their parent company BlueCo, bringing in an overall revenue of 468.5 million pounds.
The club said the revenue went up thanks to increased broadcasting receipts from the Premier League and their participation in the Club World Cup.
Chelsea won the Club World Cup in July.
The season ended in a loss due to increased costs, Chelsea said in a statement.
“Operating expenses have risen markedly, driven predominantly by increased matchday costs, due to a return to European football,” Chelsea added.