Chelsea points deduction: Ex-PL CEO shares new verdict – ‘something doesn’t seem quite right’
Everton’s former chief Keith Wyness has suggested Chelsea may have pulled off a business masterstroke by selling two Stamford Bridge hotels in an intra-company transaction.
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 – revealed that the “fascinating” deal will see revenue streams continue to flow into the Blues.
Chelsea recently released their accounts for the 2022-23 campaign, showing a pre-tax loss of £90.1million.
But the financial report also showed the Londoners were allowed to reduce their losses with the £76million sale of two hotels on the Stamford Bridge site.
The properties were sold to another company owned by club chiefs at Chelsea – with the funds crucially compliant with the Premier League’s Profitability and Sustainability Rules (PSR).
Wyness says Chelsea hotel sale is ‘within rules’ as rival fans hit out
Wyness has insisted the sale won’t “seem right to most fans” – with social media full of anger from rival supporters about the development.
He told Football Insider‘s Insider Track podcast: “It’s fascinating how you can do an intra-company transaction and all of a sudden you’ve solved your PSR problem.
“It doesn’t seem right to most fans, that’s been the general feeling. However, it was within the rules when it happened.
“The question is fair market value, and the Chelsea board has some very experienced property people on it – so I’d be amazed if the right calculations haven’t been done.
“But if the numbers suddenly seem to fit, and £76m brings them just underneath the breach umbrella – then the Premier League will have questions for Chelsea.
“They’ve managed to keep the management rights to these hotels, so the revenue streams will still be coming to the club.
“It was within the rules, but something doesn’t seem quite right with this from the fan view. They may have to do something similar every season.”
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