The Premier League has officially approved Chelsea’s recent sale of two hotels for £76.5 million. This sale was crucial for Chelsea, helping the club manage their financial situation and stay within league regulations.
In June 2023, Chelsea FC Holdings Ltd sold the Millennium and Copthorne hotels to BlueCo 22 Properties Ltd. Both companies are part of the same ownership group, BlueCo 22 Ltd, which is Chelsea’s holding company.
This transaction was significant for Chelsea’s financial records. It helped the club reduce their reported loss for the 2022/2023 season from £166.4 million to £89.9 million. According to Premier League rules, clubs can only incur a maximum deficit of £105 million over a rolling three-year period.
The Premier League reviewed the sale and confirmed that it was at fair market value, thus clearing Chelsea of any potential financial breaches. This approval ensures that Chelsea remains compliant with the league’s financial regulations.
