Chelsea hotel sales approved by Premier League

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Evening Standard

·5 de septiembre de 2024

Chelsea hotel sales approved by Premier League

Deals found to comply with Premier League rules

The Premier League has cleared Chelsea’s £76.3million deal by their owners to sell two hotels at Stamford Bridge to another company they own.

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In April, the club’s latest accounts showed the Millennium and Copthorne Hotels were transferred from Chelsea FC Holdings Ltd to Blueco 22 Properties Ltd, companies that are subsidiaries of Chelsea’s holding company Blueco 22 Ltd. The deals appear to be a move to help Chelsea ensure they stay in line with Premier League profitability and sustainability rules (PSR).

UEFA and the EFL ban such sales, but the Premier League allows them, subject to them passing assessment over whether they are “fair market value”.

That process is now thought to be completed and the deals found to comply with Premier League rules.

PSR limit clubs to losing £105m over three years. Chelsea’s latest accounts showed the club made a loss of £89.9m for 2022-23, but that figure would have been £166.4m had they not sold the two hotels next to Stamford Bridge.

Chelsea insist they will continue to comply with the rules.

Premier League clubs voted in June on whether to ban these types of transactions to sister companies, but only a reported 11 clubs supported the proposal, with 14 needed to vote through a change to the regulations.