Chelsea suffer record-breaking £342m loss as damning UEFA report released

Outside of Stamford Bridge (Image: Visionhaus)

Chelsea have recorded a record-breaking £342million loss before tax in the 2024/25 season, according to information from a new report released by UEFA .

UEFA 's annual European Club Finance and Investment Landscape report has now been published and it includes the 10 clubs with the biggest losses last season. Chelsea are at the top of the list when it comes to losses, with the BlueCo-owned club recording a £342million pre-tax deficit - the largest total in English football history.

UEFA's report does not include the details of the club's finances, so it is unclear at this point exactly how Chelsea recorded such a significant pre-tax loss. Barcelona recorded a bigger loss (£483.9m) in 2020/21, but that's the only larger pre-tax deficit than Chelsea's. The Blues' loss last season was more than double the amount of the next highest - Lyon's £165million - in Europe.

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Chelsea's squad value - in terms of combined transfer fees - at the end of the 2025 financial year was over £1.5billion in total. Manchester City's total squad value sat at £1.38billion - the closest to Chelsea in that respect.

The report states: "Chelsea FC's playing squad at the end of the club's 2025 financial year was, again, officially the most expensive ever assembled, with a combined transfer cost of €1,746m, up €90m on the record set by the club last year. Manchester City's playing squad at the end of 2025 was assembled for €1,584m, surpassing the value of the Real Madrid C.F. squad of 2020, which cost €1,332m.

"The high level of recent English club transfer spending compared with non-English clubs is evident, with the Premier League hosting seven of the top ten most expensive playing squads by transfer fee assembled at the end of the 2025 financial year. Sixteen of the 25 clubs listed reported a club record."

It adds: "Financial losses commonly occur when sporting performance falls short of expectations. Results before tax also vary considerably due to year-by-year fluctuations in transfer profits. The UEFA club monitoring process assesses clubs over a three-year period, allowing these effects to be smoothed out.

"While a number of adjustments are made between statutory reported losses and UEFA’s football earnings assessment, the top ten list this year features a number of clubs that have recently been sanctioned."

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