Chelsea co-owner Feliciano says BlueCo model is sustainable after record UEFA loss figure

Chelsea co-owner Jose E. Feliciano has defended BlueCo’s strategy at the club, saying the ownership group has put in place a “more sustainable system” that is “yielding results”.Feliciano, a co-founder and managing partner at Clearlake Capital, was speaking at Bloomberg Invest in New York after UEFA data showed Chelsea posted a €407m pre-tax deficit for the 2024-25 season, the largest loss in English football.Feliciano said: “If you own a sports club, you have to understand that you’re a steward of something much broader, and the impact on the community is much broader than just a business or just a sport.“We intend to not only stay [in the top six], but to compete for trophies every year. We intend to win the Premier League soon. I think we have put in place a much more sustainable system in terms of players and development, that I think is yielding results right now.”Feliciano was asked about the scale of losses and whether Chelsea’s approach amounted to spending heavily to generate future value, with sporting performance fluctuating during a period of rapid squad turnover.He pointed to Chelsea’s on-pitch outcomes, referencing trophy wins last season and qualification for this season’s UEFA Champions League, while also making a dismissive comparison with Arsenal’s recent honours record.BlueCo’s recruitment strategy since taking control in 2022 has been built around signing young players on long-term contracts, aiming to create a pipeline of assets with resale value while building a squad capable of competing at the top end of the Premier League.Chelsea have spent about £1.8bn on transfers in the BlueCo era, according to industry estimates, while also generating significant fees from player sales, including a large outgoing window last summer.UEFA sanctioned Chelsea in July 2025 after finding breaches of its football earnings and squad cost rules, imposing a fine and placing the club under a settlement agreement that includes spending controls and the risk of further sporting restrictions if targets are missed.The scrutiny around Chelsea’s losses has intensified as regulators and investors focus on the sustainability of football business models, particularly where clubs rely on recurring trading profits from the transfer market to offset high wage bills and amortisation costs.Chelsea are fifth in the Premier League as the season enters its final stretch, sitting in the mix for a top-five finish that would secure qualification for next season’s UEFA Champions League.