Concerns about Profit and Sustainability are at an all-time high
A former football finance advisor has claimed that Chelsea have sold their Cobham training ground to themselves in a bid to stay within the Premier League’s profit and sustainability margins.
The Blues recently posted their accounts, which happened to be the most severe operating losses of any Premier League club in history last season.
Chelsea recorded losses of £249m last year – almost £100m more than what closest offenders Leicester lost (£152m).
They also have the most expensive squad, valued at £1.1bn following a string of crazy spending sprees since Todd Boehly and Clearlake Capital took ownership of the club.
Trying to balance the books
In a bid to stay within the restrictions, Chelsea have tried make money in other means such as selling a hotel to BlueCo – the consortium led by Boehly and Clearlake who £76.3m.
Now, according to Manchester City’s former financial advisor Stefan Borson, the west London club have tried to make ends meet elsewhere and have sold their training ground to themselves to comply with the rules.
Borson reported this on Sunday after The Athletic’s David Ornstein had revealed that Chelsea were confident that they wouldn’t need to sell anyone this summer to remain before June 30 to stay within the guidelines but would need to before next year’s deadline in 2025.
This therefore led to the expert questioning if the ground had in fact been sold in-house.
He also questioned if the Premier League ratified the deal and whether there “really over £100m-150m FMV profit to be had” from selling their Cobham base.
Despite this, rival clubs still believe that Chelsea will need to sell players before the June 30 deadline to generate funds.
Related links:
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- Ange Postecoglou sensationally claims that Spurs aren’t a Champions League club
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