Exclusive: Chelsea points deduction update tonight
Today at 12:30 PM
Chelsea likely need to have recorded more than £150million worth of profit from selling non-football-related assets in 2023-24 to avoid a spending breach, sources have told Football Insider.
The west London club's latest published accounts revealed they sold two Stamford Bridge hotels to BlueCo 22 Limited – their immediate parent company – in 2023 for a total of £76.5million.
That meant their losses fell from potentially as high as £166.4million to £89.9million for the 2022-23 financial year alone.
Football Insider revealed in September last year those sales helped Chelsea avoid a profit and sustainability (PSR) breach after they were approved by the Premier League.
The London giants are expected to have been close to the spending limit again last season, with the PSR rules stating top-flight clubs can lose a maximum of £105million over a rolling three-year period.
In a further attempt to offset their major losses, the Premier League side sold their women's team to BlueCo in June last year in a deal believed to be worth in excess of £150million.
Sources have told Football Insider Chelsea could have made further transactions behind the scenes to take them well beyond the £150million worth of profit required to pass PSR for 2023-24.
The likely punishment for breaking the rules is a points deduction after Everton and Nottingham Forest were both docked points last season following their spending breaches.
Chelsea could suffer financial hit after shirt sponsor blow
The Premier League proposed to close the loopholes Stamford Bridge chiefs have exploited at its annual general meeting in June last year, but it was left two votes short after only 11 clubs backed the motion.
Chelsea are, however, still likely to face some form of punishment for their off-field dealings after The Times reported on 28 August Uefa has confirmed clubs will not be permitted to register earnings from selling assets to sister companies.
Football Insider revealed on 29 August the club are expected to have breached the governing body's financial rules, with a fine understood to be the most likely outcome if they are found guilty.
Despite matters on the pitch improving this season, Chelsea are currently running the risk of being well down on their revenue after failing to land a front-of-shirt sponsorship deal.
Deals of that nature account for almost 10 per cent of their overall income, having reported a club-record revenue of £512.5million for 2022-23.
Football Insider revealed on 16 August missing out on Champions League football and failing to land a shirt sponsor deal is likely to leave a hole of more than £100million in the club's accounts for this season.
In other news, Nicolas Jackson issues three-word statement to Chelsea fans.
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