Premier League clears Chelsea's £76m sale of two hotels to avoid PSR breach

4 September 2024, 15:46 | Updated: 4 September 2024, 18:46

The Premier League has cleared the sale of two Stamford Bridge hotels by Chelsea's owners to an associated company.

The Millennium and Copthorne hotels were sold by Chelsea FC Holdings Ltd to BlueCo 22 Properties Ltd in June 2023. Both companies are ultimately owned by BlueCo 22 Ltd, which is Chelsea's holding company.

The £76.5m deal meant Chelsea made a loss of £89.9m instead of £166.4m in their 2022/23 accounts.

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The Premier League's financial rules allow clubs to make a maximum loss of £105m over a rolling three-year period.

The sale has been cleared because the deal has been deemed to be fair market value.

Chelsea are confident they will continue to comply with the Premier League's financial rules.

How Chelsea are balancing their big spending

Chelsea were one of the Premier League's biggest spenders this summer with an outlay of £202.6m, around half of that was spent on Pedro Neto (£54m) and Joao Felix (£46.3m).

Manchester United (£205.9m) and Brighton (£192m) were also high in the spending table with Chelsea, who also agreed deals for Willian Estevao (£29.1m) and Mike Penders (£17m) to join next summer.

The Blues also recorded table-topping returns for cash received from player sales, with £172.3m coming into the club.

Manchester City were second behind Chelsea's with £146.9m made in sales - boosted by Atletico Madrid spending £82m on Julian Alvarez.

Chelsea finished the summer with a net spent of little over £30m.

Chelsea's busy transfer window

In

Kiernan Dewsbury-Hall - Leicester, £30m

Marc Guiu - Barcelona, £5m

Omari Kellyman - Aston Villa, £19m

Tosin - Fulham, free

Pedro Neto - Wolves, £54m

Renato Veiga - FC Basel, £12m

Caleb Wiley - Atlanta United, undisclosed

Estevao Willian - Palmeiras, £29.1m*

Filip Jorgensen - Villarreal, £20.7m

Aaron Anselmino - Boca Juniors, £15.6m

Joao Felix - Atletico Madrid, £46.3m

Mike Penders - Genk, £17m*

Jadon Sancho - Manchester United, loan

*transfer fee not included in total as player joining in 2025

Out

Conor Gallagher - Atletico Madrid, £36m

Romelu Lukaku - Napoli, £25.2m

Alfie Gilchrist - Sheffield United, loan

Chinoso Chibueze - Stoke, undisclosed

Jamie Cumming - Oxford, undisclosed

Michael Golding - Leicester, undisclosed

Lewis Hall - Newcastle, £28m

Omari Hutchinson - Ipswich, £18m

Ian Maatsen - Aston Villa, £37.5m

Kepa Arrizabalaga - Bournemouth, loan

Mike Penders - Genk, loan

Charlie Webster-Burton, undisclosed

Hakim Ziyech - Galatasary, undisclosed

Dion Rankine - Wigan, free

Thiago Silva - Fluminense, free

Josh Brooking - Released

Noah Hay - Released

Ted Curd - Hampton & Richmond, loan

Teddy Sharman-Lowe - Doncaster, loan

Dylan Williams - Burton, loan

Andrey Santos - Strasbourg, loan

Malang Sarr - Lens, free

Eddie Beach - Crawley, loan

Gabriel Slonina - Barnsley, loan

Aaron Anselmino - Boca Juniors, loan

Diego Moreira - Strasbourg, undisclosed

Lesley Ugochukwu - Southampton, loan

Bashir Humphreys - Burnley, loan

Leo Castledine - Shrewsbury, loan

Tino Anjorin - Empoli, undisclosed

Romelu Lukaku - Napoli, £37.9m

Djordje Petrovic - Strasbourg, loan

Ronnie Stutter - Burton, loan

Raheem Sterling - Arsenal, loan

Armando Broja - Everton, loan

Angelo Gabriel - Al Nassr, £19m

(c) Sky Sports 2024: Premier League clears Chelsea's £76m sale of two hotels to avoid PSR breach