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Many were outraged when Chelsea took extreme measures to avoid breaking the profit and sustainability regulations (PSR).
Because of their financial woes, the Blues will most certainly have to sell a plethora of players; some of whom are considered to be their household names. A massive point penalty is imminent unless the Blues can raise money and recover some of their exorbitant losses quickly.
Everton and Nottingham Forest have already taken a hit this season from the Premier League; Chelsea may get much worse.
One approach to bring the club’s financial figures per the Premier League’s PSR regulations would be to sell home-grown players.
This would be considered ‘pure profit’ on the books. But that might mean the Blues want to unload Conor Gallagher, Armando Broja, and Lewis Hall. They may also think about trying to locate captain Reece James a suitor.
The Blues have the excruciating task of repairing their finances as they wait for word on a possible punishment. In light of this, the club owners sold a hotel directly across from Stamford Bridge to another one of their companies. But their attempt to stay inside the Premier League’s expenditure limits has only caused a stir online.
Hotels sale leads to online criticism
A few months back, Chelsea announced a $112 million deficit for the fiscal year ending in June 2023. All of it fell just an inch within the parameters set forth by the Premier League’s rules.
After that, many started wondering how they managed to do it with record expenditure and whether they would comply with the PSR regulations this year. But this weekend, the club’s books came out. And surprisingly, they showed a previous loss of $310 million for the fiscal year ending in June of last year.
It has been revealed that the partnership that acquired the club in May 2022—led by Todd Boehly and Clearlake Capital—reaped $94 million from the sale of two nearby hotels. The club said that after…
Source link : https://worldsoccertalk.com/news/bizarre-chelsea-sell-club-hotel-to-subsidiary-to-avoid-points-fine
Author : Martina Alcheva
Publish date : 2024-04-14 19:41:07
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