Chelsea
Four Alarming Lessons From Chelsea’s 2024-25 Accounts
Chelsea accounts 2024-25: deep operating losses, soaring executive pay and weak player trading. 2026
Chelsea’s 2024–25 accounts offer a stark reminder that on-field struggles have a direct off-field cost. Supporters have been vocal in recent weeks over the team’s results under Liam Rosenior, and protests against the ownership are set to increase this weekend. Those demonstrations have even involved an invitation to disgruntled fans of fellow BlueCo-owned Strasbourg.
The accounts reveal an operating loss just under $348 million (£258 million), the fourth consecutive season in which day-to-day losses exceeded $270 million (£200 million). That equates to a loss of $662 (£451) per minute across the calendar year. Those running losses are compounded by legal costs linked to fines under the previous ownership that total over $67 million (£50 million).
Pay structures within the club also raise questions. Pay packets for players and staff rose by around 6% on average, while executive pay increased by 80% and directors received 60% more than in 2023–24. Chelsea stressed no individual received a pay rise of 80%, attributing the rise to an increase in the number of staff in that bracket. The club finished the season with the most administrative staff in the Premier League, adding 156 to reach 929.
Player trading, a core element of the club’s business model, produced limited returns. Chelsea generated about $404 million (£300 million) from summer player sales, but that produced only $42.9 million (£31.8 million) in profit. High book values for players with long contracts meant headline departures such as Noni Madueke, Christopher Nkunku and João Félix did not deliver the anticipated gains. Several sales came only a year or two into multi-year deals, including Nkunku two years after arrival and Félix 12 months into a six-year contract.
Finally, owner investment has masked cash needs but created future obligations. Since BlueCo joined in 2022, they have not charged interest while injecting nearly $1.5 billion (£1.1 billion) across three full seasons. Loans taken by those in charge saw related debt rise to over $303 million (£225 million) last season. Interest and repayment plans will soon be required, and officials have previously denied claims Chelsea, as an entity, would contribute to interest repayment.
Taken together, the figures outline a club balancing heavy operating losses, rising corporate pay, modest trading profits and growing loan obligations.
Chelsea
Anfield Draw: Winners and Losers From Liverpool v Chelsea
Gravenberch’s early goal and Enzo Fernandez’s free kick ensured a draw that exposed winners. on show
A draw between Liverpool and Chelsea at Anfield left both sides assessing where they stand in the Champions League race. Ryan Gravenberch’s sixth-minute stunner put Liverpool ahead early, but Chelsea responded through Enzo Fernández’s drifting free kick that evaded everybody and beat Giorgi Mamardashvili.
Liverpool were missing key personnel: Mohamed Salah, Florian Wirtz and Hugo Ekitiké were unavailable. In their absence Rio Ngumoha emerged as the clear creative focal point. He had 19 touches in the first half, completed three of four dribbles and repeatedly troubled Malo Gusto. Ngumoha’s decision to come inside and his weighted pass into space allowed Gravenberch to curl the early strike into the top corner. His withdrawal in the 66th minute prompted boos from the crowd, reflecting confusion at the substitution.
Dominik Szoboszlai’s thunderous free-kick struck the wall before play worked out to Ngumoha, whose pass created Gravenberch’s opportunity. Despite the positive moments, Liverpool were warned by the result. The draw is not a disaster, but the Reds could drop to fifth and be only three points clear of sixth if Aston Villa and Bournemouth secure positive results.
For Chelsea a draw was a useful outcome after six successive Premier League defeats prior to the trip to Merseyside. Enzo Fernández, whose recent absence included an internal two-game suspension, has returned in strong form. Operating higher and linking with Cole Palmer, Fernández exploited spaces left by Ibrahima Konaté and Curtis Jones’s lack of communication and helped shift momentum during periods of the first half.
Marc Cucurella, deployed on the left wing by stand-in manager Calum McFarlane, provided energy and combinations with Fernández and João Pedro. He was almost decisive early in the second half but a VAR offside call ruled out the move when Moisés Caicedo played him through.
Jeremie Frimpong continues to struggle for rhythm after injuries, attempting just two dribbles and completing none, with one cross, one defensive contribution and one tackle recorded by FotMob. Cody Gakpo offered little up front, with 77 minutes, 12 touches and eight passes and no shot on Filip Jörgensen’s goal. Levi Colwill, making his first Premier League start of the season after a torn ACL, enjoyed an easier afternoon than many expected.
Chelsea
Chelsea 1-1 Liverpool: Fortunate Leveller But Early Problems Persist
Chelsea drew 1-1 at Anfield as Enzo Fernández’s fortunate equaliser followed an early concession….
Chelsea left Anfield with a 1-1 draw after recovering from an early deficit but will rue a missed chance to claim all three points. Enzo Fernández’s free-kick cross sneaked inside the bottom corner for the equaliser, a strike described in the match as fortunate but earned by Chelsea’s growing control of the first half. Cole Palmer had what might have been a winner shortly after the restart, only for the effort to be ruled out by a narrow offside.
The result offered little clarity for either side’s Champions League ambitions. Chelsea’s bid is not quite over, and Liverpool’s remains unsealed.
The Blues’ recurring vulnerability to early goals remains a clear problem. After shipping the first of three Nottingham Forest goals after 83 seconds on Monday afternoon, João Pedro lamented a common theme for Chelsea. “This is the Premier League,” he fretted, “if you concede very early, it’s difficult to come back. Everyone needs to look at themselves, me included, to find a way to do better. I feel sorry for the fans.” That pattern continued at Anfield when Ryan Gravenberch needed six minutes to bend the ball beyond Filip Jörgensen following a second-phase set piece. It was the ninth goal Chelsea have conceded in the opening 10 minutes of Premier League matches this season, a tally only surpassed by relegated and manager-less Burnley.
Chelsea responded well after the early setback and forced Liverpool into a more cautious shape, allowing the visitors to exert authority on the match. Fernández’s equaliser could have proved decisive had the opening moments not again worked against Chelsea.
Player ratings
GK: Filip Jörgensen — 6.6. Might have reached Gravenberch’s strike but produced several important saves thereafter.
RB: Malo Gusto — 6.7. A lively contest with Rio Ngumoha, trading small victories.
CB: Wesley Fofana — 6.8. Limited impact; a missed aerial challenge at the goal from Fernández’s cross was telling.
CB: Levi Colwill — 7.3. First Premier League start of the season following a torn ACL; a solid return despite expected rust.
LB: Jorrel Hato — 7.2. Largely untroubled by Jeremie Frimpong.
CM: Enzo Fernández — 7.0. Roamed freely across midfield and found the equaliser.
CM: Moisés Caicedo — 7.8. Defensive linchpin, often operating as a fifth defender and covering all thirds.
CM: Andrey Santos — 6.4. Frequently a stride behind his marker.
RW: Cole Palmer — 6.6. Threatened but lacked decisive end product.
ST: João Pedro — 6.9. Created space and openings, the sharpest of Chelsea’s attackers.
LW: Marc Cucurella — 6.6. Adapted well when pushed higher amid an injury crisis.
SUB: Reece James (63’ for Santos) — 7.1. Failed to make a lasting imprint.
Unused subs: Gaga Slonina, Josh Acheampong, Tosin Adarabioyo, Trevoh Chalobah, Mathis Eboué, Roméo Lavia, Liam Delap, Ryan Kavuma-McQueen.
Match statistics
Possession: Liverpool 48% | Chelsea 52%
Expected Goals (xG): Liverpool 0.51 | Chelsea 0.47
Total Shots: Liverpool 8 | Chelsea 6
Shots on Target: Liverpool 3 | Chelsea 3
Big Chances: Liverpool 1 | Chelsea 1
Passing Accuracy: Liverpool 84% | Chelsea 86%
Fouls Committed: Liverpool 2 | Chelsea 4
Chelsea
Wirtz Omitted by Slot for Liverpool’s Chelsea Selection After Illness
Wirtz left out with stomach bug; Slot alters shape, Szoboszlai returned to attacking midfield. vs.
Florian Wirtz was absent from Liverpool’s starting line-up against Chelsea after being left out with an illness on Saturday. The Germany international’s difficult debut season at the club suffered another setback when he was reported to be unavailable due to feeling unwell, a situation first revealed by The Athletic’s James Pearce. It was clarified by BBC Sport as a case of a stomach bug.
Wirtz had been substituted from last weekend’s damaging derby defeat to Manchester United, where he operated as a false nine alongside Dominik Szoboszlai. In that match Szoboszlai outshone his ephemeral teammate and Wirtz was described in press coverage as having been bullied out of the game. The chance to respond to that performance was removed when the playmaker missed Wednesday’s training session after feeling “a bit unwell,” as Arne Slot revealed during his prematch press conference. Slot later downplayed concerns by confirming Wirtz had returned to training.
Slot selected a 4-2-3-1 for the Chelsea match: Giorgi Mamardashvili; Curtis Jones, Virgil van Dijk, Ibrahima Konaté, Milos Kerkez; Ryan Gravenberch, Alexis Mac Allister; Jeremie Frimpong, Dominik Szoboszlai, Rio Ngumoha; Cody Gakpo.
Substitutes: Freddie Woodman (GK), Joe Gomez, Andy Robertson, Federico Chiesa, Trey Nyoni, Kieran Morrison, Mor Talla Ndiaye, Will Wright, Alexander Isak.
Wirtz’s absence coincided with a tactical change. Slot appeared to abandon the double false nine system used in the 3–2 reverse at Old Trafford, instead deploying Rio Ngumoha as a natural winger in place of the floating Wirtz role. That shift restored Szoboszlai to his preferred attacking midfield position, while Jeremie Frimpong retained the right-wing slot. Frimpong was moved into a more advanced role partly because Mohamed Salah remains absent; Salah only has three more chances to make another appearance for Liverpool before his pre-planned summer departure.
