Chelsea are ‘abusing the rules’ after explosive twist – Keith Wyness
Everton’s former chief Keith Wyness has accused Chelsea of “abusing the rules” after attempting to sell their training ground to a sister company.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – suggested the Premier League and Uefa should close the loophole at the earliest opportunity.
As revealed by finance expert Stefan Borson (12 May), Chelsea have attempted to sell their Cobham training ground in an intra-company transaction to circumnavigate financial regulations.
The deal, which is expected to cover a £200million gap in Chelsea’s Profitability and Sustainability Rules (PSR) calculations, will be subject to a Fair Market Value assessment.
Chelsea loophole should be closed immediately, says Wyness
The Blues have already sold two Stamford Bridge hotels to a sister company for a total of £76.5million to offset their major losses.
Wyness told Football Insider‘s Insider Track podcast: “We know the EFL has a different rule on this because there was a lot of misuse with stadiums being sold to investors’ companies at several clubs.
“I’m actually of the opinion that you shouldn’t be able to sell assets intra-company.
“If you’re going to sell, it should be to a third party with no links to the club or owner.
“It’s a grey area, but I think it’s an abuse of the rules.
“I think this loophole should be closed down. Clubs are supposed to stand on their revenue as much as possible.
“Of course, the owners seem to be able to fund the club perfectly well. I’ve always spoken up for owners being able to invest as much as they want, provided they aren’t loading the club up with debt.”
In other news, Chelsea star makes mind up on Newcastle United move.
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