Premier League clear Chelsea's controversial £76.5m hotel sale in major PSR boost

The Blues' efforts to comply with the financial regulations were made easier as the Premier League will allow them to include the proceeds made from selling two hotels to a sister company in their accounts for the last financial year, ESPN reports.

Ownership of the Millennium and Copthorne hotels was transferred from Chelsea FC Holdings Ltd to BlueCo 22 Properties Ltd, another subsidiary of BlueCo 22 Ltd., the holding company that owns the Stamford Bridge club.

In the financial accounts for the financial year of 2022-23, they would have recorded a £166.4 million loss had it not been for the sale to the sister company. Instead, that loss was reduced to £89.9m.

Although UEFA and the English Football League (EFL) forbids do not allow sales of this type, the Premier League permits such transactions if they are proven to be of a fair market value. The English top-flight has now completed its assessment and allowed the Blues to record the sales, boosting their hopes of avoiding punishment for breaking the rules.

Clubs are allowed to show a maximum of £105m in losses over a three-year period in their books, so Chelsea are said to be confident of complying with PSR rules for now. With their financial concerns dealt with, they will hope to get back to winning ways on the field when Cole Palmer and Co. face Bournemouth on September 14.