Exclusive: Chelsea to be hit by crushing financial blow, dramatic twist revealed
Chelsea are likely to see the financial loopholes they have recently exploited closed by the Premier League if a new vote takes place next month, sources have told Football Insider.
The west Londoners sold two Stamford Bridge hotels to a sister company last year for a total of £76.5million to offset their major losses.
Chelsea posted a loss of £90million in the 2022-23 financial year alone, with the Premier League’s profit and sustainability rules (PSR) stating top-flight clubs can lose a maximum of £105million over a rolling three-year period.
The Premier League proposed to close the loophole at its annual general meeting in June, but it was left two votes short after only 11 clubs backed the motion.
The Times reported on 5 August the governing body is now considering a fresh bid to change the rules and could ask clubs to vote on its new proposal as early as next month.
Sources have told Football Insider the Premier League would likely succeed with a new motion if the changes are more closely aligned with the current UEFA rules.
That would mean the regulations would be more focused on football-related profits as opposed to profits generated from non-football-related assets – ensuring at least some of the loopholes would be closed.
Chelsea deals being reviewed by Premier League after PSR issues
The hotel sales are not the only behind-the-scenes manoeuvre Chelsea have made to help them comply with the financial rules in recent times.
Finance expert Stefan Borson revealed on 12 May the West London giants have attempted to sell their Cobham training ground in an intra-company transaction, which could cover a £200million gap in their PSR calculations if it’s approved by the Premier League.
Borson then revealed on 11 July Chelsea had sold their women’s team to parent company BlueCo on 28 June in a further attempt to potentially circumnavigate the PSR rules for 2023-24.
The Times reported on 17 July the Premier League is now reviewing the sale to ensure it complies with rules around associated party deals and is fair market value.
Borson told Football Insider top-flight clubs are likely to protest against the women’s team sale if it’s pushed through at a high value following suggestions the deal could be worth between £150-200million.
In other news, Chelsea to complete A-list striker signing after deal agreed.
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