Keith Wyness reacts to ‘surprising’ twist in Chelsea hotel sale controversy
Everton’s former chief Keith Wyness has insisted a delay in Chelsea registering their controversial hotel sale won’t prevent the deal going through.
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 – claimed the move is just a “housekeeping exercise for the Blues.
Chelsea exploited a loophole in Premier League financial rules last year by selling two Stamford Bridge hotels to a sister company for a total of £76.5million to offset their major losses and provoking anger from rival clubs.
It was widely reported in September that the hotel sales have been ratified following a fair market value assessment under the associated party transaction (APT) rules.
However, Football Insider expert Stefan Borson revealed (20 November) The Hotel at Chelsea Limited only notified the Land Registry of an “intended sale” on 19 November.
Documents show the deal is expected to complete in early January 2025, presenting a new twist in the controversial chain of events.
Chelsea hotel deal twist is just ‘housekeeping exercise’, says Wyness
Wyness told Football Insider‘s Insider Track podcast: “It’s almost 18 months after the sale emerged.
“The main thing isn’t registering the sale with the land registry, it’s more to do with getting that Premier League approval.
“That approval has been received, showing the deal was done at fair market value.
“This seems to have been just a housekeeping exercise.
“I’m surprised it is taking so long, but it’s not actually fundamental to the approval of the transaction on the football side.
“It’s more important on the ownership side.
“The main thing was getting this deal approved at fair market value. It will go through.”
In other news, Chelsea to accept “cut-price” Mykhailo Mudryk offer – insider.
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