In a groundbreaking revelation, UEFA’s latest European Club Finance and Investment Landscape Report has unveiled that Chelsea’s squad at the end of the 2024 financial year was the most expensive ever assembled in football history.
Valued at an astonishing €1.66 billion (£1.39 billion), the Blues have surpassed the previous record of £1.12 billion set by Real Madrid in 2020.
The report highlights the Premier League’s financial dominance, with nine of the 20 most costly squads in Europe belonging to English clubs.
Chelsea, Manchester City, Manchester United, and Arsenal each boasted squads worth over €1 billion, underscoring the league’s unparalleled financial strength. Remarkably, West Ham’s squad was deemed more expensive than those of Barcelona and AC Milan.
Chelsea’s wage expenditure was also a focal point of the report. Manchester City recorded the second-highest wage costs at €554 million (£464.5 million), with only Paris Saint-Germain spending more at €658 million (£551.7 million).
UEFA President Aleksander Ceferin emphasized the need for clubs to remain vigilant despite responsible player wage management.
“While most clubs appear to be managing player wage increases responsibly, other costs are rising rapidly, putting greater pressure on operating margins than ever before,” Ceferin stated.
The report also highlighted a record-breaking €2.1 billion (£1.8 billion) investment in stadiums across Europe in 2023, exceeding the previous high of €1.5 billion set in 2019 before the pandemic.
Real Madrid, Barcelona, Everton, and PSG each invested over €100 million in stadium projects, while 36 clubs allocated at least €10 million to stadium improvements.
Chelsea’s unprecedented spending spree, driven by owner Todd Boehly, has not yet translated into significant on-field success. Despite the massive investment, the club finished sixth in the Premier League last season and currently sits fifth.
The report’s findings raise questions about the sustainability of such financial practices and the long-term impact on the club’s performance.
As Chelsea continues to navigate the complexities of modern football finance, the club’s record-breaking squad valuation serves as a testament to the evolving landscape of the sport. With UEFA’s new squad cost rules set to limit spending on player wages, transfers, and agents’ fees to 70% of revenue from next season, the financial strategies of top clubs will undoubtedly face greater scrutiny.
