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The Guardian - UK
The Guardian - UK
Sport
Jacob Steinberg

Chelsea’s £76.5m hotel deals raise questions over PSR compliance

Chelsea PSR EPL
An aerial view of Stamford Bridge
Chelsea say an independent valuation of the hotels they sold was commissioned and no issues were raised. Photograph: Heritage Images/Getty Images

Premier League clubs reacted with exasperation after seeing that ­Chelsea eased their financial ­position with the £76.5m sale of two hotels to a ­sister company in a deal that appears to have helped the club avoid a breach of profitability and ­sustainability rules (PSR).

Chelsea’s accounts, published last weekend, revealed the club made a loss of £89.9m in the last financial year. That figure would have been £166.4m without the hotels sale from Chelsea FC Holdings Ltd to Blueco 22 Properties Ltd. Both companies are subsidiaries of Chelsea’s holding company, Blueco 22 Ltd.

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