Chelsea spent £747m on transfers in 2022-23 season

LONDON - Chelsea spent £747m on transfers last season, according to accounts published by Companies House.

The wage bill rose by 18% to £404m, the second highest in the Premier League.

Players costing £592m were sold for £203m, although accounting rules mean that generated a profit of £63m.

As of 30 June 2023 — after the first full year under the ownership of Todd Boehly's Clearlake Capital consortium — the total cost of the squad was more than £1bn.

A further £450m has been spent on transfers since 30 June, but that will be included in the 2023-24 accounts.

On Friday it was revealed that Chelsea spent more than £75m on agents and intermediaries over the 12-month period to February 2024, the most of any Premier League side.

In March they reported a pre-tax loss of £90m, having lost £121m the previous year.

Under Premier League profit and sustainability (PSR) regulations, clubs can lose a maximum of £105m over three seasons before facing sanctions.

Certain costs, including investment in youth and women's teams, can be deducted, but Chelsea are likely to need to sell more players by 30 June in order to remain within the rules.

How can Chelsea's spending satisfy financial rules?

New signings in the 2022-23 accounts include Enzo Fernandez from Benfica for a then British record £105m, Mykhailo Mudryk from Shakhtar Donetsk for £89m and Benoit Badiashile from Monaco for £35m.

Sales include Kai Havertz to Arsenal for £65m, Mateo Kovacic to Manchester City for £25m and Timo Werner to RB Leipzig in a deal thought to be worth about £25m.

The £55m sale of Mason Mount to Manchester United will be in the 2023-24 accounts, as will the signing of Moises Caicedo from Brighton in a deal that could rise to a British record £115m.

In a "restructure" of Chelsea's property portfolio, the hotel at Stamford Bridge was sold to a subsidiary of the club's holding company

Blueco, helping to generate a profit of £77m.

Chelsea's turnover increased from £481m in 2021-22 to £513m last season, but broadcasting revenue dropped by £9m to £256m after they failed to qualify for Europe.

The Premier League is investigating potential financial rule breaches that occurred during previous owner Roman Abramovich's tenure, which were reported by the new ownership group following their takeover in May 2022.

Everton have this season been deducted eight points for two breaches of PSR rules, while Nottingham Forest have been deducted four points.