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

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.

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.