Chelsea news: Stefan Borson reveals ‘strange’ twist after new documents filed
Chelsea have only just applied for a change of ownership on the Land Registry for their hotel sale despite the transaction already being approved.
That is the view of finance expert Stefan Borson, who exclusively told Football Insider it’s a “strange” update because it doesn’t match the London giants’ accounts.
Chelsea exploited a loophole last year by selling two Stamford Bridge hotels to a sister company for a total of £76.5million to offset their major losses.
The West Londoners posted a loss of £90million in the 2022-23 financial year alone, with current Premier League rules stating top-flight clubs can lose a maximum of £105million over a rolling three-year period.
BBC Sport reported on 4 September the hotel sales have been ratified by the Premier League following a fair market value assessment under the associated party transaction (APT) rules.
But Borson revealed on 20 November The Hotel at Chelsea Limited only notified the Land Registry of an “intended sale” on 19 November.
Chelsea accounts don’t match latest hotel update
“I don’t actually know what the significance is,” Borson told Football Insider.
“It is a bit strange. I found on the Land Registry that they have finally applied for a change of ownership.
“But it is not clear what the impact of that is, to be honest.
“We have been led to believe and I’m sure it’s right that it’s already been approved, it’s therefore in the accounts for 2023 and the Premier League are happy with it.
“But that does not match the public legal filings.
“What it means is hard from the outside to know.
“It probably means nothing, but it is strange that it doesn’t match with their accounts.”
In other news, Man United are plotting move to sign Christopher Nkunku.
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