Premier League to ‘change the rules’ after dramatic Chelsea twist – Borson
The Premier League will try again to ban the profit and sustainability (PSR) loophole regarding asset sales that Chelsea recently exploited.
That is the view of finance expert Stefan Borson, who exclusively told Football Insider he expects the rules to change in due course despite the governing body failing in its latest attempt to block clubs from using one-off profits from the sale of hotels, training grounds or other tangible assets in their financial fair play submissions.
The Premier League proposed to close the loophole at its annual general meeting earlier this month, but it was left two votes short after only 11 clubs backed the motion.
It comes after Chelsea have attempted to sell their Cobham training ground in an intra-company transaction to circumnavigate the financial regulations.
The deal, which is expected to cover a £200million gap in the west London club’s PSR calculations, will be subject to a Fair Market Value assessment.
Chelsea have already sold two Stamford Bridge hotels to a sister company for a total of £76.5million to offset their major losses.
Chelsea in an unusual position after exploiting PSR loophole
Borson believes the Premier League likely failed in its attempt to close the loophole because its suggestion was drafted poorly.
“Chelsea is in an unusual position in that it’s got prime real estate because it’s Chelsea,” Borson told Football Insider.
“I think the rules will change in due course.
“They tried to bring in a set of restrictions.
“I think they probably drafted them in a poor way, which meant in the vote they just fell short.
“But they will obviously tweak that and come back again.”
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