Chelsea have set up a company in the United States of America as the club's owners look to build its brand.
A key detail in the accounts of Chelsea FC Holdings Limited, published on Sunday morning, revealed that the move has been taken after the accounting deadline for the most recent set of figures which was June 30 2022. Included in the post-balance sheet events section, it's a small but interesting detail as Todd Boehly and co-owners Clearlake Capital make moves in their efforts to grow the club's revenues.
Clearlake have set a target of £1 billion with the hope that the club can become less reliant on owner funding and move toward self-sustainability. Part of that will be growing Chelsea's brand worldwide with America, where Boehly and Clearlake are based, a clear target.
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With Christian Pulisic in the club's ranks the US is an obvious country for growth and it appears the Blues have taken a key step toward that.
"Since the year end the company incorporated a new wholly owned subsidiary, Chelsea FC US Inc., incorporated in the United States," a statement in Chelsea's accounts read.
What exactly Chelsea FC US Inc.'s purpose will be is as of yet unclear but it could be used to build a real presence in the US, such as offices or academies for the club to develop American talent. The headline figure from Chelsea's accounts, up to the end of June last year - so not long into the reign of the current owners - was the £121 million loss.
That amount would have been higher had Chelsea not sold Tammy Abraham to AS Roma or Fikayo Tomori to AC Milan with the operating loss standing at a whopping £285m. That saw Chelsea become the first club to rack up pre-tax losses of£1bn since the Premier League began in 1992.
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