LONDON (Reuters) - Chelsea recorded a pre-tax profit before taxation of 128.4 million pounds ($165.83 million) for the year ending in June despite a fall in revenue thanks to the repositioning of their women's team, the Premier League club said on Monday.
The profit, which was also helped by the disposal of player registrations, comes after a loss of 90.1 million pounds in the previous year to June, which was the first under the ownership of the consortium led by Todd Boehly.
The women's team passed from Chelsea FC Holdings Limited to BlueCo, Boehly's consortium, last June, removing any losses associated with Chelsea Women from the club accounts and Chelsea Holdings benefiting from the sum that BlueCo paid.
The profit on disposal of subsidiaries was 198.7 million pounds while the profit on disposal of player registrations came to 152.5 million pounds.
Chelsea's overall revenue fell from 512.5 million pounds in 2023 to 468.5 million, which the club said was due to the men's team not competing in the Champions League.
The club's broadcasting receipts increased thanks to their sixth-place finish in the Premier League, along with decent cup runs, and there was also a fall in operational costs and growth in commercial and matchday revenue.
($1 = 0.7743 pounds)
(Reporting by Trevor Stynes; Editing by Ken Ferris)
