Premier League rivals release financial results

Chelsea, Everton, and Tottenham have reported their latest financial results for the financial year ending June 2024.

Chelsea have recorded a pre-tax profit of £128.4m for the financial year ending June 2024, an improvement from the previous year’s pre-tax loss of £90.1m.

The club attributed the profit to the sale of player registrations worth £152.5m and the restructuring of its women’s team, which was repositioned as a standalone business within the owners’ wider portfolio.

Chelsea’s overall revenue declined from £512.5m in 2023 to £468.5m, largely due to the men’s team missing out on Champions League qualification.

Matchday revenue increased to £80.1m, and commercial revenue rose to £225.3m, supported by higher income from player loans and non-matchday activities.

Meanwhile, Everton have reported a loss of £53m for the 2023-24 season, a reduction from the £89m loss recorded in the previous year. The club has now reported losses for seven consecutive years, totalling £570m.

Everton, who faced an eight-point deduction last season for breaching the Premier League’s Profit and Sustainability Rules (PSR), will not face further sanctions over an outstanding PSR charge.

Turnover increased by £15m to £187m, while player sales contributed £50m, including Ben Godfrey’s transfer to Atalanta and Lewis Dobbin’s move to Aston Villa.

Net debt has risen to £567m, with £313m spent on the development of the club’s new 52,888-capacity stadium at Bramley-Moore Dock, set to open for the 2025-26 season.

The Texas-based Friedkin Group completed a £400m takeover of Everton in December, refinancing the club’s borrowings and converting former owner Farhad Moshiri’s shareholder loans into equity.

Finally, Tottenham have reported a post-tax loss of £26.2m for the 2023-24 financial year, a significant improvement from the £86.8m loss recorded in the previous year.

Despite a £21.4m drop in total revenue, attributed largely to the absence of European competition and a sharp decline in UEFA prize money from £56.2m in 2023 to £1.3m, Tottenham’s profit from operations increased by 4% to £144.9m.

These financial results come as the Premier League clubs navigate financial sustainability rules.