- Club’s losses reduced by property deal with sister company
- Chelsea would have lost £166.4m without hotel sales
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 regulations (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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Source link : https://www.theguardian.com/football/2024/apr/19/chelseas-765m-hotel-deals-raise-questions-over-psr-compliance
Author : Jacob Steinberg
Publish date : 2024-04-19 17:29:46
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