by The Premier League has given the green light to a £76.3m deal between Chelsea and their owners to sell two hotels at Stamford Bridge to another company they own.
In April, the club’s latest accounts showed that the Millennium and Copthorne hotels were transferred from Chelsea FC Holdings Ltd to Blueco 22 Properties Ltd, subsidiaries of Chelsea’s holding company, Blueco 22 Ltd. The deals appear to be a move to help Chelsea ensure they remain in line with the Premier League’s Profitability and Sustainability Rules (PSR).
UEFA and the EFL prohibit such sales, but the Premier League allows them, provided they are assessed to determine whether they represent “fair market value”.
It is now believed that this process is complete and the agreements are in accordance with Premier League rules.
The PSR caps club losses at £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 it not sold the two hotels next to Stamford Bridge.
Chelsea insist they will continue to play by the rules.
Premier League clubs voted in June to ban such deals with sister companies, but only 11 clubs are understood to have backed the proposal, with 14 needed to vote for a rule change.
