Alright everyone, let’s try to help out the forum here.

Every thread on the forum leads to two conversations. Finance/Accounting and SD/Ownership. We have the separate SD threads and the ownership thread. To maintain some balance in the forum let’s keep the accounting and finance conversations for ALL Chelsea related topics in this very place.

Joining here you know exactly what to expect - so maybe this will help our posters who hate this topic not have to read about our finances on every thread.

@Mod if you don’t like the idea, do remove it.

I’ll start us off in layman’s terms.

Spend 1.7 Billion, flip players for as close to that 1.7 Billion for small profit or marginal loss and keep your best talents.

You now have rebuilt your team with the best talents for a minimum fee. Players that do not make the cut get sold as part of the strategy. This is the brilliance of our model and player portfolio.

Edited August 29, 2025Aug 29 by Clown Lake

8 minutes ago, Clown Lake said:

I’ll start us off in layman’s terms.

Spend 1.7 Billion, flip players for as close to that 1.7 Billion for small profit or marginal loss and keep your best talents.

You now have rebuilt your team with the best talents for a minimum fee. Players that do not make the cut get sold as part of the strategy. This is the brilliance of our model and player portfolio.

You should have made it clear that it's a pure comedy thread .

That is truly fantastic. I didn't realise that we had recouped that 1.7 Bn by flipping these players. Crikey, there was me thinking that the owners had taken the club that was completely debt free and re-financed it with loans to make speculative investments in a market place with a dwindling number of market participants that have liquid assets and a centralised market trading financial structure that is coming under increasing scrutiny as it is being tested through legal channels.

It is a truly phenomenal strategy. Of course we were already 20 odd years behind the curve so couldn't have possibly have had the foresight to have seen this strategy, following on from the groundbreaking success that the Glazers are achieving as well.

11 minutes ago, WhiteWall said:

That is truly fantastic. I didn't realise that we had recouped that 1.7 Bn by flipping these players. Crikey, there was me thinking that the owners had taken the club that was completely debt free and re-financed it with loans to make speculative investments in a market place with a dwindling number of market participants that have liquid assets and a centralised market trading financial structure that is coming under increasing scrutiny as it is being tested through legal channels.

It is a truly phenomenal strategy. Of course we were already 20 odd years behind the curve so couldn't have possibly have had the foresight to have seen this strategy, following on from the groundbreaking success that the Glazers are achieving as well.

Explaining what the model is as easily explained friend. Thats the target.

I am no accountant - but this is my uneducated laymen interpretation....

Under Roman Abramovich, we were effectively debt-free. Abramovich bankrolled Chelsea with massive, interest-free loans, and then in 2009 he went a step further and converted around £709 million of those loans into equity. In practice, that wiped the slate clean. The club didn’t owe the banks, it didn’t have external borrowings hanging over it, and even the old stadium debts from the late 90s were cleared. By the mid-2010s Chelsea were even starting to record occasional profits.... however much externals hated on us and the Abramovich money, our financial structure meant the club was secure: no interest payments, no third-party creditors, no pressure from UEFA etc....

...Contrast that with where we now. We have embarked on the most aggressive spending spree in football history, with over 1.3 billion (perhaps more?) on transfers in just three years... crazy spending, and the consequence is obvious. We have already fallen foul of UEFA’s new financial regulations to the extent that we were hit with a €31 million fine, plus another €60 million of penalties hanging over the club if compliance isn’t met going forward. The clubs reckless management has seen us forced into a four-year settlement with UEFA, essentially putting the current oweners on probation.

So for me, the difference is stark. Under Roman Chelsea had stability. no debts, no financial watchdog breathing down their necks, and the odd year of genuine profit. Under Clearlake, Chelsea are in a constant balancing act, fined by UEFA, and walking a tightrope to avoid even harsher punishments.

It is a dangerous game.

29 minutes ago, nonotnowjim said:

I am no accountant - but this is my uneducated laymen interpretation....

Under Roman Abramovich, we were effectively debt-free. Abramovich bankrolled Chelsea with massive, interest-free loans, and then in 2009 he went a step further and converted around £709 million of those loans into equity. In practice, that wiped the slate clean. The club didn’t owe the banks, it didn’t have external borrowings hanging over it, and even the old stadium debts from the late 90s were cleared. By the mid-2010s Chelsea were even starting to record occasional profits.... however much externals hated on us and the Abramovich money, our financial structure meant the club was secure: no interest payments, no third-party creditors, no pressure from UEFA etc....

...Contrast that with where we now. We have embarked on the most aggressive spending spree in football history, with over 1.3 billion (perhaps more?) on transfers in just three years... crazy spending, and the consequence is obvious. We have already fallen foul of UEFA’s new financial regulations to the extent that we were hit with a €31 million fine, plus another €60 million of penalties hanging over the club if compliance isn’t met going forward. The clubs reckless management has seen us forced into a four-year settlement with UEFA, essentially putting the current oweners on probation.

So for me, the difference is stark. Under Roman Chelsea had stability. no debts, no financial watchdog breathing down their necks, and the odd year of genuine profit. Under Clearlake, Chelsea are in a constant balancing act, fined by UEFA, and walking a tightrope to avoid even harsher punishments.

It is a dangerous game.

Yes, you are correct. This is why we are aggressively managing our portfolio. We have become a super agent club with a large pool of talent to trade. We keep the best talents for ourselves while we keep the trading machine turning for profit. This is the model. We arent freely bankrolled by a billionaire anymore and that is our reality. The situation could have been much more dire if we had owners like the Old Trafford leeches in the Glazer family.

6 minutes ago, Clown Lake said:

Yes, you are correct. This is why we are aggressively managing our portfolio. We have become a super agent club with a large pool of talent to trade. We keep the best talents for ourselves while we keep the trading machine turning for profit. This is the model. We arent freely bankrolled by a billionaire anymore and that is our reality. The situation could have been much more dire if we had owners like the Old Trafford leeches in the Glazer family.

This model will work purely financially. We will though struggle to put together a sustained challenge to the league if we continually change 6 players per season. Hence the need for at least one more feeder club.

.

17 minutes ago, Clown Lake said:

Yes, you are correct. This is why we are aggressively managing our portfolio. We have become a super agent club with a large pool of talent to trade. We keep the best talents for ourselves while we keep the trading machine turning for profit. This is the model. We arent freely bankrolled by a billionaire anymore and that is our reality. The situation could have been much more dire if we had owners like the Old Trafford leeches in the Glazer family.

It would have been cheaper had we just focused on a few.

Badiashile, Mudryk, Disasi, Sterling, DdF, KDH, Bergstrom, Sanchez, Ugochukwu, Chukwumeka, Veiga among others are massive wastes of resources.

We would have made the same squad without the people mentioned above

38 minutes ago, Clown Lake said:

Yes, you are correct. This is why we are aggressively managing our portfolio. We have become a super agent club with a large pool of talent to trade. We keep the best talents for ourselves while we keep the trading machine turning for profit. This is the model. We arent freely bankrolled by a billionaire anymore and that is our reality. The situation could have been much more dire if we had owners like the Old Trafford leeches in the Glazer family.

Except that our trading "machine " has a negative balance since the takeover,.

And our two holding companies have massive debt attached to both of them after buying a club that had no debt...

But the club is valued now, according to Todd, higher than the price they paid for us. .

The football side of our club is irrelevant, it's the finances that get you and the Investors excited.. Even though YOU shouldn't be excited because the finances aren't very good are they ? We had to sell hotels and the women's team to ourselves to comply with PSR . You should have been forced to watch our Palace game in the actual stadium and casually mention to surrounding fans that the plan is working !! 😂😂😂

45 minutes ago, Clown Lake said:

Edited August 29, 2025Aug 29 by The Rising Sun
Information

1 hour ago, charierre said:

This model will work purely financially. We will though struggle to put together a sustained challenge to the league if we continually change 6 players per season. Hence the need for at least one more feeder club.

.

When was the last time we won the league? We havent had it in 8 years. We had not been serious in the league in almost a decade now. Let the team be build and then complain.

1 hour ago, Deino said:

It would have been cheaper had we just focused on a few.

Badiashile, Mudryk, Disasi, Sterling, DdF, KDH, Bergstrom, Sanchez, Ugochukwu, Chukwumeka, Veiga among others are massive wastes of resources.

We would have made the same squad without the people mentioned above

It’s a portfolio mate.

25 minutes ago, Clown Lake said:

When was the last time we won the league? We havent had it in 8 years. We had not been serious in the league in almost a decade now. Let the team be build and then complain.

It’s a portfolio mate.

The problem is the team isn’t actually getting built with so many changes year on year. We need continuity. By all means bring in new blood per season but the amount we are bringing in is detrimental to squad cohesion. It’s not complaining, it’s just fact, we now need a period of stability to allow the team to bond and a spine to form.

1 minute ago, charierre said:

The problem is the team isn’t actually getting built with so many changes year on year. We need continuity. By all means bring in new blood per season but the amount we are bringing in is detrimental to squad cohesion. It’s not complaining, it’s just fact, we now need a period of stability to allow the team to bond and a spine to form.

The attack was not good enough, I firmly believe we have elevated our attack this year. We only had Jackson as a striker FFS and injured Marc Guiu!

Thought i'd do a quick round up of their actual signings so we can keep track of what they've managed without the reliance on the academy to balance the books (apologies for the laughably long list:

Player: Bought for: Sold for: Profit/loss: Current transfermarkt value: Potential profit/loss on value:

Enzo Fernandez 121M - - 75M (46M)

Wesley Fofana 80.4M - - 25M (55.4)

Mudryk 70M banned - 0M (70M)

Cucurella 65.3M - - 35M (30.3M)

Sterling 56.2M - - 10M (46.2M)

Koulibaly 41.9M 23M (18.9M) - -

Badiashile 38M - - 22M (16M)

Madueke 35M 56M 21M - -

Malo Gusto 30M - - 35M 5M

Chukwuemeka 18M 20M 2M - -

Casadei 14.86M 13M (1.86M) - -

A.Santos 12.5M - - 35M 22.5M

Aubameyang 12M Free (12M) - -

D.D.Fofana 12M - - 6M (6M)

Slonina 9.09M - - 3.5M (5.59M)

Zakaria 3M Free (3M) - -

Caicedo 116M - - 90M (26M)

Lavia 62.1M - - 40M (22.1M)

Nkunku 60M 35M? (25M) - -

Cole Palmer 47M - - 120M 73M

Disasi 45M - - 22M (23M)

Jackson 37M - - 50M 13M

Ugochukwu 27M 28.7M 1.7M - -

Sanchez 23M - - 20M (3M)

Petrovic 16M 28.9M 12.9M - -

Deivid Washington 16M - - 8M (8M)

Angelo 15M 23M 8M - -

Pedro Neto 60M - - 50M (10M)

Joao Felix 52M+11M loan 30M (33M) - -

KDH 35.4M 28.65M (6.75M) - -

Jorgensen 24.5M - - 18M (6.5M)

Omari Kellyman 22.5M - - 1.5M (21M)

Mike Penders 20M - - 12M (8M)

Anselmino 16.5M - - 8M (8.5)

Amougou 15M 14.5M (0.5M) - -

Renato Veiga 14M 24.5M 10.5M - -

Caleb Wiley 10.1M - - 8M (2.1M)

Marc Guiu 6M - - 8M 2M

Jadon Sancho 5.9M+5Mcancel FREE (10.9M) - -

Joao Pedro 63.7M - - 50M (13.7M)

Jamie Gittens 56M - - 50M (6M)

Jorrel Hato 44.18M - - 35M (9.18M)

Liam Delap 35.5M - - 40M 4.5M

Estevao 34M - - 60M 26M

Essugo 22.27M - - 20M (2.27M)

Mamadou Sarr 14M - - 20M 6M

Kendry Paez 10M - - 10M 0M

Quenda 50.78M - - 45M (5.78M)

Denner 10M - - N/A N/A

TOTAL 1,700.59M 325.25M (55.81M) 1,032M (280.02M)

To summarise, on the players these directors have bought, they have managed to make a 55.81M loss on these players. On the players they have stockpiled, if they were to be sold for their current market value, we would make a further 280.02M loss. A record sale transfer window is to be expected when you hoard so much talent, its not so impressive when you look at the details of their details. Without the sale of academy stars and Roman era players, the club would have nothing to fall back on.

For reference, we have sold 302.02M worth of players (pure profit) from Cobham since the takeover. Almost as much as we have sold their actual failed signings for. The rest of the sales of 252.96M were from Roman's CL winning team. Cobham's talent is drying up and the CL squad is gone.

https://www.bbc.com/sport/football/articles/c70575zx8l5o

We have also spent by far the most on agent fees for consecutive years, and failed with the most basic commercial deals such as a FOS sponsor since the take over.

Impressive business model!

Edited August 29, 2025Aug 29 by Ukraine Bolt
formatting lol

2 minutes ago, Clown Lake said:

The attack was not good enough, I firmly believe we have elevated our attack this year. We only had Jackson as a striker FFS and injured Marc Guiu!

Undoubtedly, but now really all we need is a GK and CB. Allow the talents we’ve brought in to grow together. I’ll make a prediction though this time next year we’ll bring in another half dozen and it’s rewind reset making the coaches job a lot harder. As I said if they want to trade players we require at least one more feeder club…something tbh I’m not in favour of, as much as I’m a Chelsea fan, I’m also a football fan and it goes against the spirit of the game but that’s another story.

16 minutes ago, charierre said:

Undoubtedly, but now really all we need is a GK and CB. Allow the talents we’ve brought in to grow together. I’ll make a prediction though this time next year we’ll bring in another half dozen and it’s rewind reset making the coaches job a lot harder. As I said if they want to trade players we require at least one more feeder club…something tbh I’m not in favour of, as much as I’m a Chelsea fan, I’m also a football fan and it goes against the spirit of the game but that’s another story.

I think I can take another year of Sanchez and allow Penders to grow at Strasbourg. He really improved after March.

The CB id be really sweating if Tosin gets injured, I agree. However we have a ton in that area so Enzo has to earn his money here. Acheampong is a Supreme talent and Hato can cover.

25 minutes ago, Ukraine Bolt said:

Thought i'd do a quick round up of their actual signings so we can keep track of what they've managed without the reliance on the academy to balance the books (apologies for the laughably long list:

Player: Bought for: Sold for: Profit/loss: Current transfermarkt value: Potential profit/loss on value:

Enzo Fernandez 121M - - 75M (46M)

Wesley Fofana 80.4M - - 25M (55.4)

Mudryk 70M banned - 0M (70M)

Cucurella 65.3M - - 35M (30.3M)

Sterling 56.2M - - 10M (46.2M)

Koulibaly 41.9M 23M (18.9M) - -

Badiashile 38M - - 22M (16M)

Madueke 35M 56M 21M - -

Malo Gusto 30M - - 35M 5M

Chukwuemeka 18M 20M 2M - -

Casadei 14.86M 13M (1.86M) - -

A.Santos 12.5M - - 35M 22.5M

Aubameyang 12M Free (12M) - -

D.D.Fofana 12M - - 6M (6M)

Slonina 9.09M - - 3.5M (5.59M)

Zakaria 3M Free (3M) - -

Caicedo 116M - - 90M (26M)

Lavia 62.1M - - 40M (22.1M)

Nkunku 60M 35M? (25M) - -

Cole Palmer 47M - - 120M 73M

Disasi 45M - - 22M (23M)

Jackson 37M - - 50M 13M

Ugochukwu 27M 28.7M 1.7M - -

Sanchez 23M - - 20M (3M)

Petrovic 16M 28.9M 12.9M - -

Deivid Washington 16M - - 8M (8M)

Angelo 15M 23M 8M - -

Pedro Neto 60M - - 50M (10M)

Joao Felix 52M+11M loan 30M (33M) - -

KDH 35.4M 28.65M (6.75M) - -

Jorgensen 24.5M - - 18M (6.5M)

Omari Kellyman 22.5M - - 1.5M (21M)

Mike Penders 20M - - 12M (8M)

Anselmino 16.5M - - 8M (8.5)

Amougou 15M 14.5M (0.5M) - -

Renato Veiga 14M 24.5M 10.5M - -

Caleb Wiley 10.1M - - 8M (2.1M)

Marc Guiu 6M - - 8M 2M

Jadon Sancho 5.9M+5Mcancel FREE (10.9M) - -

Joao Pedro 63.7M - - 50M (13.7M)

Jamie Gittens 56M - - 50M (6M)

Jorrel Hato 44.18M - - 35M (9.18M)

Liam Delap 35.5M - - 40M 4.5M

Estevao 34M - - 60M 26M

Essugo 22.27M - - 20M (2.27M)

Mamadou Sarr 14M - - 20M 6M

Kendry Paez 10M - - 10M 0M

Quenda 50.78M - - 45M (5.78M)

Denner 10M - - N/A N/A

TOTAL 1,700.59M 325.25M (55.81M) 1,032M (280.02M)

To summarise, on the players these directors have bought, they have managed to make a 55.81M loss on these players. On the players they have stockpiled, if they were to be sold for their current market value, we would make a further 280.02M loss. A record sale transfer window is to be expected when you hoard so much talent, its not so impressive when you look at the details of their details. Without the sale of academy stars and Roman era players, the club would have nothing to fall back on.

For reference, we have sold 302.02M worth of players (pure profit) from Cobham since the takeover. Almost as much as we have sold their actual failed signings for. The rest of the sales of 252.96M were from Roman's CL winning team. Cobham's talent is drying up and the CL squad is gone.

https://www.bbc.com/sport/football/articles/c70575zx8l5o

We have also spent by far the most on agent fees for consecutive years, and failed with the most basic commercial deals such as a FOS sponsor since the take over.

Impressive business model!

…I’m sure you understand that what you have posted here is an utter sh*tshow. Thats not how transfers work and you know it well.

Nick Woltemade transfermarkt value is €30m and he was sold for €90m just now.

Wobble your head and jog on.

12 minutes ago, Clown Lake said:

…I’m sure you understand that what you have posted here is an utter sh*tshow. Thats not how transfers work and you know it well.

Nick Woltemade transfermarkt value is €30m and he was sold for €90m just now.

Wobble your head and jog on.

Correct, Woltemade also isn't worth 90M. Other clubs poor transfers don't excuse ours. Even ignoring the value on transfermarkt, they've made a loss on their signings to date and been bailed out by Roman's squad and Cobham.

Just now, Ukraine Bolt said:

Correct, Woltemade also isn't worth 90M. Other clubs poor transfers don't excuse ours. Even ignoring the value on transfermarkt, they've made a loss on their signings to date and been bailed out by Roman's squad and Cobham.

Romans squad is an odd statement. They paid for CFC, Cobham and the squad is included. Blame UK/England if you want to point fingers.

Most transfers do not go for transfermarkt value unless theyre on massive wages (you can even take a loss if high wages). Our players for sale never are on high wages due to the wage structure. See the difference?

Edited August 29, 2025Aug 29 by Clown Lake

Our current transfer model will inevitably mean we will find ourselves having to sell a Palmer, Estevao or Caicedo at some point if results dip below CL qualification. Whether we want to or not.

When we sail so close to the wind we will eventually get caught out

1 hour ago, Clown Lake said:

The attack was not good enough, I firmly believe we have elevated our attack this year. We only had Jackson as a striker FFS and injured Marc Guiu!

Really strange example to use when all summer our allegedly Phenomenal Directors are desparately trying to move on Jackson to enable other purchases but cannot due to their own over inflated valuation of an average player and a completely stupid 9 year contract.

It is phenomenal @just

26 minutes ago, just said:

Really strange example to use when all summer our allegedly Phenomenal Directors are desparately trying to move on Jackson to enable other purchases but cannot due to their own over inflated valuation of an average player and a completely stupid 9 year contract.

£12.9m Loan fee, and sell him next year for our evaluation if he does well at Bayern.

https://x.com/cfcpys/status/1961563496933388364?s=46&t=4B62fAfz0Lmzdlr54vOunQ

Also lets not rewrite history here, JAckson himself asked to move, we did not ask him. We are more than happy to keep. There is competition yes, but we are not pushing him away.

Edited August 29, 2025Aug 29 by Clown Lake

3 hours ago, Clown Lake said:

It’s a portfolio mate.

That's not how it works. Don't gaslight yourself into accepting it.

20 minutes ago, Deino said:

That's not how it works. Don't gaslight yourself into accepting it.