The Premier League has approved the sale of Chelsea's hotels. This will help the club with PSR rules
Steven Perez
Dailysports's expert
The Premier League has approved Chelsea's sale of two hotels, alleviating the club's concerns regarding Profit and Sustainability Rules (PSR).
According to ESPN, ownership of the Millennium and Copthorne hotels has transferred from Chelsea FC Holdings Ltd to BlueCo 22 Properties Ltd, another subsidiary of the club's holding company.
The financial report for the 2022/23 season recorded losses of £166.4 million. After the league permitted the sale of the hotels for £76.5 million, the losses were reduced to £89.9 million.
Clubs are allowed to report up to £105 million in losses over a three-year period. Therefore, Chelsea is confident they will have no issues with PSR.
Additionally, Arsenal legend Emmanuel Petit humorously advised the club's management on their transfer policy.
