Chelsea have reported a pre-tax profit of £128.4m in their financial results for the year ending June 2024.

The figure was an improvement on the first full year under the ownership of Todd Boehly’s Clearlake Capital consortium, in which the Premier League club announced pre-tax losses of £90.1m.

Chelsea’s overall revenue fell from £512.5m in 2023 to £468.5m, which the club attributed to the absence of Champions League football for their men’s side.

The club credited the profit to the “disposal of player registrations” worth £152.5m and the “repositioning” of their highly successful women’s team

Chelsea announced a restructuring and a long-term strategic plan for the women’s team in May 2024, which saw them sold to become a standalone business from the men’s side while remaining a part of the club owners’ wider portfolio.

Chelsea said matchday revenue increased to £80.1m for its financial year, from £76.5m in the previous results.

Commercial revenue also increased from £210.1m in 2023 to £225.3m due to “an increase in player loan income and strong sales of non-matchday activities”.