Chelsea have declared a profit for 2023/24 before taxation of £128.4m compared to a loss of £90.1m for the prior year.

This was down to “increased profit on disposal of player registrations and repositioning of Chelsea Football Club Women Ltd”. The women’s team was sold from Chelsea Holdings to BlueCo.

Chelsea add that “this new approach will ensure CFCW has dedicated resources, management and commercial leadership solely focused on the growth and success of the women’s team.”

Overall revenue in the year fell to £468.5m due to the men’s team not competing in the Champions League.

Matchday revenue increased to £80. 1m as an average attendance of approximately 40,000 was maintained.

The growth in commercial revenue to £225.3m was driven by an increase in player loan income and sales of non-matchday activities, including stadium tours and merchandise sales.

Decreased operating expenses, profits on disposal of player registrations of £152.5m and a profit on disposal of subsidiaries of £198.7m, led to the group recording an overall net profit of £129.6m after tax.