WSL accounts underline widening financial divide between clubs

Financial accounts from the 2024-25 season show a pronounced gap between the Women’s Super League’s highest-earning clubs and much of the rest of the division. The Guardian, which reviewed detailed accounts published by eight WSL clubs, reported turnover above £21m at both Arsenal and Chelsea, while Brighton recorded £1.34m and Everton £2.93m.

Arsenal posted turnover of £21.54m, up from £15.26m, and a £22,000 profit after tax. Matchday revenue rose to £5.9m, the largest figure in the report, while broadcasting revenue reached £2.02m after the club’s run to the 2024-25 Champions League title. The accounts also said Arsenal remained reliant on financial support from parent undertaking KSE UK Inc.

Chelsea’s turnover climbed to £21.31m from £11.50m, but the club reported a £17.10m loss after tax. The Guardian noted that a significant part of that loss related to Chelsea Women purchasing Kingsmeadow from Chelsea Football Club Limited for £12.08m. Chelsea’s commercial revenue was £16.03m, and its total wage bill rose to £14.52m, the highest among the eight clubs detailed.

The figures were sharply different elsewhere. Brighton’s £5m wage bill was several times its turnover and the club recorded a £7.29m loss, although its accounts included a commitment from chair Tony Bloom to continue providing support. Everton and Tottenham each spent 98% of revenue on wages. Tottenham’s turnover increased to £4.41m, but matchday revenue fell to £433,000, compared with Arsenal’s £5.9m.

Liverpool and Manchester United were the other clubs in the report to post after-tax profits for the season. Liverpool made £168,000 on turnover of £6.13m, with wages accounting for 51% of revenue. United reported a £397,000 profit and £10.74m turnover, although its broadcasting, matchday and commercial revenues all declined from the previous campaign.

Not every 2024-25 WSL club published the same level of detail. Crystal Palace reported £1.32m turnover and a £1.99m post-tax loss, while Leicester City recorded a £4.80m loss. Aston Villa’s men’s-team accounts disclosed £7.65m in expenditure on the women’s side, and West Ham said it qualified for an audit exemption. Together, the available accounts show growth at several clubs but also major differences in revenue, spending and reliance on owner support.