Key player sales included Noni Madueke to Arsenal, Kiernan Dewsbury-Hall to Everton, and Djorde Petrovic to Bournemouth.

The published PSR excludes certain expenditures, such as women’s football and youth development, from the calculation.

Accounts have been filed with Companies House and will be formally published in due course after submission.

A football finance expert questions the interpretation of the accounts, stressing that Champions League revenue is crucial as Chelsea sit sixth in the Premier League.

The club says its losses are within Premier League financial regulations that permit up to €120 million of losses over a three-year period.

Agent payments and other regulatory matters are under review; Chelsea avoided a points deduction after a sanction agreement with the Premier League, receiving a £10.75 million fine and a suspended one-year transfer ban for cooperation.

Chelsea reported a Premier League-record pre-tax loss of £262.4 million for the year ending June 2025, driven by higher operating costs versus the previous year and despite a one-off profit from selling the women’s team stake.

Stadium capacity and age are cited as concerns, with Stamford Bridge’s 40,000 seats smaller than rivals, potentially widening revenue gaps.

Looking ahead, Chelsea projects roughly €100 million in revenue from the Club World Cup win and over €90 million from TV rights for this season’s Champions League, helping to fuel expected growth.

Chelsea is navigating significant corporate restructuring and regulatory scrutiny alongside record commercial activity and industry-leading transfer spending under its current ownership.

The full financial report was not published on Chelsea’s site on the day of release, but accounts were submitted to Companies House with publication expected later.

Other losses include UEFA fines for transfer market breaches and settlements with players such as Raheem Sterling and Mykhailo Mudryk, the latter having a doping-related suspension.