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.
Arsenal
Alex Scott’s likely next move and the clubs in contention
Chelsea are said to lead the race for Alex Scott, with Arsenal and Liverpool also linked.
Alex Scott’s future is still open to question, with Bournemouth expecting strong transfer attention to continue around the midfielder. Chelsea are said to be in the strongest position at present, while Arsenal and Liverpool remain part of the picture.
Scott underlined his qualities with a standout full debut for England in the 7-0 win over Croatia, showing the combination of athleticism, tenacity and grace that has made him such an attractive target. Chelsea’s interest is not new. They made more than one bid for him in the most recent transfer window, but Bournemouth rejected every offer. Those proposals were reportedly above $79 million (£60 million).
According to the Telegraph, Chelsea plan to revisit the pursuit over the next year and are currently leading the race. Bournemouth are understood to have ruled out a winter move, although Chelsea are prepared to wait until next summer, when Scott would have only one year left on his contract.
Arsenal are also among the clubs linked, and the appeal is obvious. The chance to join the Premier League champions would be significant, but regular playing time would not be guaranteed. Arsenal already have a strong midfield group, with Declan Rice the main figure and Myles Lewis-Skelly, Mikel Merino, Martin Ødegaard, Martín Zubimendi, Eberechi Eze and Kai Havertz all in the mix. The situation became even more competitive with the arrival of Bruno Guimarães.
That leaves Scott with a clear footballing choice to make if interest turns into a formal move. Arsenal would be an impressive destination, but the squad balance suggests he would face serious competition for minutes. Arsenal also have other areas needing attention, particularly on the left wing and at center forward, which makes Scott a valuable but not essential target.
Chelsea
Tuchel Voices Sympathy for Sterling as Career Stalls
Tuchel has backed Sterling amid legal trouble, club uncertainty and a sharp fall from his peak.
Thomas Tuchel has spoken publicly in support of Raheem Sterling, saying he feels for the forward as his career and personal life continue to unravel. Sterling pleaded guilty to dangerous driving charges last month and remains without a club after failing to secure a move since then.
The case has already drawn significant attention. In May, Sterling crashed his Lamborghini into a metal gate after an incident on the M25 and M3. At the scene, police found six nitrous oxide canisters, and bodycam footage released in September showed him trying to move them onto the back seat after he admitted the charges.
Tuchel, who previously asked Todd Boehly to prioritise Sterling’s arrival at Stamford Bridge in 2022, believes the winger’s decline began after leaving Man City. Sterling had established himself as a major Premier League figure after breaking through at Liverpool and moving to the Cityzens in a $75 million deal in 2014. Under Pep Guardiola, he produced five straight double-digit Premier League goal returns between 2017-18 and 2021-22.
“I have a lot of sympathy for him, and I feel that he has struggled ever since he left Man City and he was at the peak of his career,” Tuchel told reporters on Friday.
Sterling scored 13 goals in his final season at the Etihad before joining Chelsea in 2022. He managed 24 Premier League goal contributions across his first two seasons in west London, but his position changed sharply after that. A loan move to Arsenal did not revive him, and he later found himself outside Enzo Maresca’s plans, spending much of his time with the Italian’s “bomb squad” before leaving the club earlier this year.
His stint at Feyenoord brought more frustration, with his own supporters mocking and jeering him. Then came the Lamborghini incident.
“It’s sad to see that someone struggles because he was a devoted father to his children and he was a family guy, a nice guy to be around,” Tuchel added.
Tuchel still believes Sterling can recover from what he called a “downward spiral”, though the evidence of the last few seasons suggests a long way back for a player who once looked destined for a far brighter end to his career.
Chelsea
Chelsea Receive Double Training Lift as Injury Concerns Continue
Palestra and Emegha are back in Chelsea training, but major injury doubts remain ahead of Bournemouth.
Chelsea have been given a welcome lift with Marco Palestra and Emmanuel Emegha back in full training, offering some relief during a period of growing concern over fitness issues across the squad.
The pair were both shown training by the club’s social media team as Chelsea prepare for their next Premier League fixture against Bournemouth on Oct. 10. Their return gives Alonso added depth at a time when selection options have been stretched.
Palestra, who was used heavily in preseason, is expected to strengthen the wing-back positions when he is available again. His versatility on either flank could prove useful, especially with Chelsea having already rotated through Jorrel Hato, Pedro Neto, Pep Chavarría and Malo Gusto in those roles this season.
Emegha’s return also gives Alonso another option in attack. Even so, the striker is not guaranteed significant minutes, with João Pedro and Danny Welbeck having both made goalscoring starts to the campaign.
While the return of Palestra and Emegha is positive, Chelsea are still waiting on updates involving several more important injury cases.
João Pedro missed the 3–0 defeat to Brentford before the international break because of a knee problem, and that issue also forced him to withdraw from Brazil duty. He is expected to be available against Bournemouth, though nothing has been confirmed.
Reece James was also absent from the Brentford defeat and later left out of Thomas Tuchel’s England squad. His availability for the Bournemouth match remains unclear.
The same uncertainty applies to Cole Palmer and Moisés Caicedo. Palmer withdrew from the England squad with a muscle issue and was criticised by Tuchel as a result, while Caicedo has managed only 14 competitive minutes this season because of a calf injury.
