The Premier League has cleared Chelsea of an investigation into the sale of two hotels to a company owned by the club’s owner to comply with its financial fair play policy.
Chelsea have sold two hotels next to Stamford Bridge to the company BlueCo, which manages Todd Boehly, owner of the club, worth 76 million pounds (90 million euros). In this way, Chelsea ensured that the annual losses were reduced from 166 million pounds to 89 million. Under Premier League regulations, a club cannot have losses of more than £105m over a three-year period.
This operation was studied by the Premier League because it was a sale to a sister company, so the value of the hotels could increase and it would not be a “fair market”.
This type of operation, for example, is prohibited by UEFA, so Chelsea, if it is determined that the set amount does not fall within the fair market, could face sanctions in European competitions.
Source: La Verdad
I am Shawn Partain, a journalist and content creator working for the Today Times Live. I specialize in sports journalism, writing articles that cover major sporting events and news stories. With a passion for storytelling and an eye for detail, I strive to be accurate and insightful in my work.
