Chelsea eased their financial position with the sale of two hotels for £76.5m (€88.7m/$94.6m) in a move that has led to questions from other clubs.
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- Sold two hotels to sister company
- Eased PSR breach concerns
- Rivals react with exasperation
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WHAT HAPPENED?
According to , Chelsea's sale of two hotels to a sister company has been met with "exasperation" from rival clubs. In accounts published last week, the Blues had losses of £89.9m (€104.3m/$111.2m) in the last financial year. If not for £76.5m (€88.7m/$94.6m) sale from Chelsea FC Holdings Ltd to Blueco 22 Properties Ltd. (both subsidiaries of Chelsea’s holding company, Blueco 22 Ltd), that figure would have been £166.4m (€193m/$205.8m).
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THE BIGGER PICTURE
The Premier League did not block the sale but Chelsea's exploitation of a loophole was met with "raised eyebrows" in some quarters and incredulity from one unnamed club executive. The Stamford Bridge club's finances have been under scrutiny since Todd Boehly and Clearlake Capital bought the club in 2022, with over £1 billion spent on transfers since. It is expected further player sales will be required to comply with PSR regulations.
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DID YOU KNOW?
The hotels in question were built as part of the Chelsea village development completed in 2001 under Ken Bates. Both were scheduled to be demolished as part of a vast stadium redevelopment after Roman Abramovich purchased the club but the plan was later abandoned.
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WHAT NEXT FOR CHELSEA?
While there remains many off-field questions at Chelsea, attention turns to on-field matters on Saturday. Mauricio Pochettino's side will be looking to make a second domestic final this season when they take on Manchester City in an FA Cup semi-final at Wembley.
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