Exclusive: Chelsea have ‘£50m’ hole in their accounts – Stefan Borson
Chelsea have a £50million hole in their accounts for this season after so far failing to agree a new front-of-shirt sponsorship deal.
That is the view of finance expert Stefan Borson, who exclusively told Football Insider the west London club are continuing to face “big” challenges operationally.
Deloitte’s 2025 Money League revealed Chelsea’s overall revenue fell from £513million in 2022-23 to £469million last season.
The London giants’ commercial revenue did, however, increase from £210million to £225million across the same period.
That was aided by their front-of-shirt sponsorship with Infinite Athlete before that deal expired last summer, leaving the club without a primary sponsor for this season.
Chelsea are facing ‘big’ challenges after financial reveal
Borson suggested the agreement with the US-based sports data company could have been worth up to £50million.
“The lack of Champions League is the key reason why their revenue dropped,” Borson told Football Insider.
“Actually, if you look at it, I think you could argue that they did a good job in mitigating their loss of Champions League with increased commercial revenue.
“They did okay on the commercial side.
“We don’t know what value went on the Infinite Athlete front-of-shirt sponsorship that was approved by the Premier League, but it does appear that must have been at the upper end of expectations.
“The flip side of that is if that was let’s say £50million, at the moment they have no front-of-shirt sponsor, so that is a £50million hole in this year’s numbers all things being equal.
“Of course, this year they still don’t have Champions League.
“We know that the Conference League isn’t anywhere near as lucrative.
“Even if you win it, you can only expect about £20million in total, maybe £25million.
“There are big challenges ongoing for Chelsea.”
In other news, Chelsea “making progress towards Alejandro Garnacho agreement”.
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