‘Chelsea investors will be angry’ after latest – ‘they’ve embarrassed themselves’
Chelsea reported pre-tax profit of £128.4million for the 2023-24 campaign earlier this week despite their lavish transfer spending in recent years.
The Blues made that figure possible by selling the women’s team and possible other infrastructure to a sister company for nearly £200million.
However, it has been widely reported in recent days that the Premier League are yet to approve that deal for fair market value.
The transaction helped Chelsea balance the books after more than £1.5billion of spending on new players in the last three years.
Everton’s former chief Keith Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – has insisted Chelsea investors will be “angry” despite the positive financial results on paper.
Chelsea have ’embarrassed themselves’ after ‘wasting money’, says Wyness
Speaking on the new edition of Football Insider’s Inside Track podcast, Wyness insisted Chelsea have “wasted” the money raised by selling the women’s side and exploiting a loophole in the rules.
The Blues sit fourth in the Premier League and could return to the Champions League next term but look no closer to a title challenge despite their huge spending.
Wyness insisted the Stamford Bridge club have “embarrassed themselves” with their recent conduct.
He told Football Insider‘s Inside Track podcast: “It seems to be smart private equity thinking.
“But the women’s team deal doesn’t seem right, and it shows an ignorance to the way things should be done.
“They have wasted a lot of the money they have created from these loopholes. They haven’t spent it wisely.
“That’s where they should be more concerned – there perhaps wasn’t even a need to create such big sums of money, if they focused on getting it right on the football side.
“But instead, they’ve embarrassed themselves by losing so much money.
“Overall, as an investor – I’d be pretty angry with the way they’ve wasted money.”
Chelsea could sell Sancho immediately this summer
Meanwhile, Football Insider has revealed (26 March) that Chelsea are considering selling Jadon Sancho immediately after triggering their obligation to buy this summer.
| Appearances (Starts) | 29 (20) |
| Minutes Played | 1793 |
| Goals | 2 |
| Assists | 7 |
| Yellow Cards | 1 |
The Blues are set to make a decision about Sancho’s future in the coming days – as his £25million move could be cancelled with a £5million payment to Man United.
A number of clubs both domestically and abroad are keeping a close eye on his situation with the winger potentially set to be sold on this summer.
For more Chelsea and exclusive news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.