The Board

[MoroccanBlue 5,385]

I've simply accepted were fucked. Going to be 7th-11th for the next decade. 

Edited March 8, 2024 by MoroccanBlue

[NikkiCFC 8,337]

2 hours ago, TheHulk said:

Club run by complete morons.

It's apparently because Riyadh Air is coming to be main sponsor. Can't have two airlines. 

[Vesper 30,226]

Chelsea report £90m loss in 2022-23 accounts – what does it mean for PSR?

https://theathletic.com/5322989/2024/03/07/Chelsea-accounts-loss-ffp/

Chelsea have reported a pre-tax loss of £90.1million ($114.8m) in their accounts for the 12-month period ending on June 30, 2023.

The loss, down from £121.4m in the previous financial year, raises fresh questions about Chelsea’s ability to remain compliant with the Premier League and UEFA’s financial regulations, though the club insist they will do so.

Chelsea’s overall turnover for the year actually rose to a club-record high of £512.5m, buoyed by commercial revenue increasing to £210.1m and matchday income rising to £76.5m with the club once again being allowed to operate freely after the sanctions imposed by the UK government to force Roman Abramovich to sell in 2022.

Broadcast revenue, however, fell to £225.9m from £235m in 2021-22 despite Chelsea reaching the Champions League quarter-finals last season, due primarily to a significantly lower payment from the club’s 12th-placed finish in the Premier League.

---

What was announced on Thursday?

BlueCo 22 Limited, the parent company set up by the ownership group led by Todd Boehly and Clearlake Capital after their takeover of Chelsea in May 2022, reported a massive pre-tax loss of £678.2m for the year ending June 30, 2023 “driven by investment in Chelsea men’s and women’s playing squads”.

The number that has more direct implications for Chelsea is £90.1m: that is the pre-tax loss on the club’s accounts for 2022-23, announced on the club’s official channels.

What does this all mean?

Chelsea have now made huge pre-tax losses in each of the last three years: £156m in 2020-21, £121m in 2021-22 and £90.1m in 2022-23.

Those figures suggest things are moving in the right direction, but the structural challenges that confronted the club’s old ownership — a relatively small, aging stadium that heavily restricts matchday income and commercial revenue that remains significantly lower than Manchester City, Manchester United, Liverpool and Tottenham — are going nowhere.

This means Chelsea are still heavily reliant on profit from player sales to offset their operating losses and create the wiggle room for transfer spending within football’s financial rules. The club generated profits on disposal of player registrations and fixed assets of £142.2m for the year ending June 30, 2023.

Do these numbers put Chelsea at risk of breaching PSR?

Chelsea reiterated their insistence that they are compliant with the Premier League’s profit and sustainability rules, which allow clubs to lose up to £105m over a three-year monitoring period. At first glance, the figures above would seem to make that claim impossible.

In reality, clubs can make deductions for healthy expenditure such as on their women’s team and academy. There are also allowances for the impact of the COVID pandemic that apply to the 2020-21 accounts, and Chelsea may also argue for further adjustments for revenue lost when operating under UK government sanctions in 2021-22.

Respected football finance analyst Swiss Ramble estimates that once the necessary deductions and adjustments are made, Chelsea are compliant with PSR for 2022-23.

When asked about the club’s financial position, Mauricio Pochettino said: “I was told today the club announced (the financial results) but didn’t see, it was only one minute before (the press conference) that I was told about this.

“At the moment I have still not talked to the owners or the sporting directors (about this). I cannot give my opinion, I know nothing because we were busy with training the whole morning.

“For sure today or tomorrow I will have better information and then I can explain in the next press conference what my opinion is and how I see things.”

What are the implications for next year’s figures?

Next year looks much more challenging for Chelsea with broadcast, matchday and commercial revenue all expected to fall substantially in the absence of European football this season.

Boehly and Clearlake believe their overhaul of the first-team squad has lowered the overall wage bill by tens of millions of pounds, but next year’s accounts will also include more than £400m in transfer fees committed to acquire 11 players including Moises Caicedo, Romeo Lavia, Cole Palmer and Axel Disasi.

Significant money has also been raised through player departures, most notably the sale of Mason Mount to Manchester United for an initial £50m. But despite the denials of club officials, many outside Chelsea believe the club need to raise more money before June 30 in order to stay on the right side of PSR.

GO DEEPER

Chelsea, Strasbourg, BlueCo and a multi-club model yet to convince a sceptical fanbase

[NikkiCFC 8,337]

PSG copy us. 

 

[Fulham Broadway 17,333]

Clownlake company man Chief Executive Jurasek has made quite the impression since joining last May, and is not afraid to call it as he sees it. 

Indeed, in a recent staff meeting with new starters he was asked if he supported Chelsea. To paraphrase, and to open mouths, he responded that he was ‘not  a football fan’ before adding that he refers to the game at Premier League meeting as ‘a product and our fans as customers – which some people get mad at’.

🍆

[TheHulk 2,482]

 

[ZAPHOD2319 4,819]

17 hours ago, Fulham Broadway said:

Clownlake company man Chief Executive Jurasek has made quite the impression since joining last May, and is not afraid to call it as he sees it. 

Indeed, in a recent staff meeting with new starters he was asked if he supported Chelsea. To paraphrase, and to open mouths, he responded that he was ‘not  a football fan’ before adding that he refers to the game at Premier League meeting as ‘a product and our fans as customers – which some people get mad at’.

🍆

I read this and it truly solidified that Chelsea is truly fucked. We are only a vehicle to buy young players and sell them for profit. It is the woeful MLS, but at least I have hope that Atlanta United are capable of winning that league. Chelsea is being run into the ground by people that don’t give a fuck about the club.

[Fulham Broadway 17,333]

44 minutes ago, ZAPHOD2319 said:

I read this and it truly solidified that Chelsea is truly fucked. We are only a vehicle to buy young players and sell them for profit. It is the woeful MLS, but at least I have hope that Atlanta United are capable of winning that league. Chelsea is being run into the ground by people that don’t give a fuck about the club.

Its a sad state of affairs, I suppose we can take a small crumb of comfort in that all the PL clubs, in fact most of football is run as a business for profit. Its just its hitting us hardest post Abramovich. (Joni Mitchell 'you dont know what you had till it gone'' springs to mind.) Guess we can count ourselves lucky that we had an owner who was 100% football and Chelsea fan, the money was secondary and thats how we accrued a shed load of trophies and titles.

We can hope that the current custodians realise that they need football people on board for their 'business' to flourish. Even Gates and Zuckerberg realise they need an army of well paid computer nerds to make money.

[Fulham Broadway 17,333]

Chelsea could be set for a summer of dealings with Saudi Arabia after it emerged the club's chairman Todd Boehly met with Michael Emenalo during a recent visit to the capital of the Middle Eastern country.

Emenalo is the Saudi Pro League’s director of football, having previously held a position in the Chelsea boardroom. 

The meeting, which was understood to have been held in Riyadh in the last fortnight, will only add to speculation that the club are looking to offload players to Saudi.

Riyadh Air have also been linked with becoming the club’s new shirt sponsor for next season.

Chelsea will look to offload several stars this summer, including Romelu Lukaku, Kepa Arrizabalaga, Armando Broja, Trevoh Chalobah, Marc Cucurella and Raheem Sterling. 

 

[Vesper 30,226]

1 hour ago, Fulham Broadway said:

Chelsea could be set for a summer of dealings with Saudi Arabia after it emerged the club's chairman Todd Boehly met with Michael Emenalo during a recent visit to the capital of the Middle Eastern country.

Emenalo is the Saudi Pro League’s director of football, having previously held a position in the Chelsea boardroom. 

The meeting, which was understood to have been held in Riyadh in the last fortnight, will only add to speculation that the club are looking to offload players to Saudi.

Riyadh Air have also been linked with becoming the club’s new shirt sponsor for next season.

Chelsea will look to offload several stars this summer, including Romelu Lukaku, Kepa Arrizabalaga, Armando Broja, Trevoh Chalobah, Marc Cucurella and Raheem Sterling. 

 

get rid of

Robert Sánchez 
Marcus Bettinelli 
Axel Disasi 
Benoît Badiashile 
Wesley Fofana 
Trevoh Chalobah  
Malang Sarr   
Marc Cucurella  
Raheem Sterling  
Romelu Lukaku  
Armando Broja  
Kepa Arrizabalaga 
Hakim Ziyech  

Thiago is likely gone as well

we so need a CF, multiple CBs and better wingers, plus, if Dortmund buy Maatsen, a LB

our CBs are a nightmare on balance

[TheHulk 2,482]

18 minutes ago, Vesper said:

get rid of

Robert Sánchez 
Marcus Bettinelli 
Axel Disasi 
Benoît Badiashile 
Wesley Fofana 
Trevoh Chalobah  
Malang Sarr   
Marc Cucurella  
Raheem Sterling  
Romelu Lukaku  
Armando Broja  
Kepa Arrizabalaga 
Hakim Ziyech  

Thiago is likely gone as well

we so need a CF, multiple CBs and better wingers, plus, if Dortmund buy Maatsen, a LB

our CBs are a nightmare on balance

Great list. Still can't believe we bought so many defenders and all suck.

I'd add Noni and Gallagher on the list.

Edited March 12, 2024 by TheHulk

[Vesper 30,226]

9 minutes ago, TheHulk said:

I'd add Noni and Gallagher on the list.

perhaps Noni, but disagree on Gallagher

we are foolish to sell him

[Fulham Broadway 17,333]

I'd keep Madueke and Gallagher

But offload Eggman and Boehly to the head choppers

[Vesper 30,226]

On 29/02/2024 at 15:06, JFKvsNixon said:

As part of the conditions of the purchase, Clearlake are not allowed to sell Chelsea for age least 10 years.

That would never hold up in court

[chelsea_4_eva 1,182]

Remember when we had owners and board members who care for the club.. sigh... I always thought that when Roman retired, he was going to pass the club on to his son, someone who also cares and is a Chelsea fan.

And now we are a cash cow for some cowboys.

Edited March 13, 2024 by chelsea_4_eva

[milka 3,393]

What these clowns doing  at the dressing room  after  every game?  They talk how good we are after win with the squad ,or instruct system 443 ? No we are not we are still pathetic at 11th place nowhere near to compete for anything .

https://www.football365.com/news/todd-boehly-sacked-tuchel-ex-Chelsea-boss-denied-children-half-time-dressing-room

 

Edited March 13, 2024 by milka

[robsblubot 3,595]

1 hour ago, milka said:

What these clowns doing  at the dressing room  after  every game?  They talk how good we are after win with the squad ,or instruct system 443 ? No we are not we are still pathetic at 11th place nowhere near to compete for anything .

https://www.football365.com/news/todd-boehly-sacked-tuchel-ex-Chelsea-boss-denied-children-half-time-dressing-room

 

Imagine the amount of 🙄 from the players.

And folks want us to hire a top manager. 😆

[ZAPHOD2319 4,819]

This has always been a non story from the media for me. Roman went in the locker room when he was in London after both wins and loses. The players said after loses he wouldn’t speak to them, he just glared.

[Fulham Broadway 17,333]

FANS GETTING PROGRESSIVELY FUCKED OFF WITH CLOWNLAKE

 

Chelsea are facing more supporter dissent after being warned that a slide towards “irreversible toxicity” in the stands is likely to end in protests against the ownership.

In a letter sent to Todd Boehly and Behdad Eghbali this month, the Chelsea Supporters’ Trust cited concerns about higher ticket prices, the cost of merchandise and travel to games, and a lack of communication from the board. The CST, which said Chelsea had “become a laughing stock on and off the pitch” since being bought by Boehly and Clearlake Capital in 2022, pointed to anger and frustration over a sense that supporters are being used to raise revenue streams.

The low mood has been reflected at recent games. Raheem Sterling was booed after struggling during Chelsea’s win over Leicester City in the FA Cup last Sunday. Mauricio Pochettino, the head coach, and Boehly, the controlling co-owner, were abused during the recent 2-2 draw away to Brentford.

“The current feeling amongst Chelsea supporters in our opinion is at its lowest since the early 1980s,” the CST said. “While this may be expected with our current run of form and position in the league table, a significant number of supporters that we speak to are quick to express concerns that the lack of any public-facing vision from the new ownership has led to an overwhelming sense of helplessness.

“Supporters are saying that there currently seems a fast-growing lack of trust from much of the fanbase, especially matchgoers towards the board, partially due to severely limited communication. Many supporters have significant concerns about the future of our club.

“The views of a quiet few became a vocal expression of a larger number of Chelsea supporters present at the [Brentford] game. Much of our recent dialogue with supporters reveals a lack of belief in the decision-makers at the top of our club. The current mood amongst supporters is critically low and cannot be ignored. The feeling that the club has become a ‘laughing stock’, both on and off the pitch, is growing.

“The Chelsea Supporters’ Trust regretfully believes that we are close to, if not already experiencing, a significant shift in supporter opinion that could result in irreversible toxicity, almost irrespective of results on the pitch. Unless the situation improves, this seems likely to manifest itself in more targeted chanting, especially at televised games, and quite possibly more organised, overt, and impactful forms of protest by some sections of the fanbase.”

The Trust said the owners had communicated after their takeover that they would explore every commercial avenue possible in an attempt to bring Chelsea’s income in line with other major Premier League clubs and that charging supporters more would be done as a last resort.

It claimed this pledge had been broken by a number of price increases and budget cuts. Examples cited included prices for coaches to away games increasing by £53, replica kits by £5, tickets to cup games by £1-£13, programmes by 50p, youth fixtures by £2, women’s matches by “record amounts”, and food and drink in general admission areas by 5-15%.

It remains to be seen whether Chelsea raise season ticket prices this summer. “The Chelsea Supporters’ Trust acknowledges you are seeking to optimise income, but we have significant concerns regarding ticket pricing going forward,” the CST said. It said many fans were “fearful that they will be priced out of watching the club they love by above-inflation increases”.

Complaints over a lack of engagement with fans centred around silence from Chelsea, who are 11th in the league despite spending more than £1bn on signings in the past two years, over their stadium redevelopment plans.

Chris Jurasek, Chelsea’s chief executive, responded to the CST on 20 March. “We deeply value the dedication, commitment and desire from all our supporters to continue to develop Chelsea FC into the most successful and admired club in the world, both on and off the pitch,” he said. “Part of achieving that goal will be done by working with our supporters. We want to ensure we engage with our supporters regularly to provide them with clear lines of communication.

“With the establishment of the Fan Advisory Board, who liaise with the Club on a regular basis, we are confident that there is a great deal of shared discussion and an intention to work closely with a number of key stakeholders.

“Our goal is the same as your goal: to ensure Chelsea Football Club has a bright and successful future. To do so, there is a necessity to increase club revenue to put us on a par with our rivals and allow us to compete in both the Premier League and Women’s Super League, as well as in domestic and European competitions. There are several ways we are already doing that and will further explore.

“We recognise there is a concern about rising costs on a matchday and the impact ticket prices can have on our supporters. Rest assured, we are taking frequent advice and engaging in regular consultation with the Fan Advisory Board to ensure that we take a holistic approach in this vitally important issue.”

Mark Meehan, the chair of the CST, criticised Jurasek for failing to respond to concerns raised in the original letter. “We are supporters, not customers,” Meehan said.

Guardian

[bluesman2610 1,421]

Man I remember towards the end before the forced sale how many people had issues with the previous board too. It's funny how life works I guess. While I will thank Roman for everything he did over his 19 year stint I'm also pretty pissed that he has left us in a situation where we could be expelled from PL because of how he ran the club.