Newcastle Exclusive: Big points deduction update today after surprise…
That meant their losses fell from potentially as high as £166.4million to £89.9million for the 2022-23 financial year alone.
ESPN reported on 4 September the Premier League has now ratified the hotel sales after it conducted a “fair market valuation” under the associated party transaction (APT) rules.
Sources have told Football Insider Chelsea would have failed the PSR rules had the Premier League not approved the sales, in what has been deemed a surprise in many quarters.
The likely punishment would have been a points deduction after Everton and Nottingham Forest were both docked points last season following their spending breaches, but the London giants will not suffer a similar fate after they have now passed PSR for 2022-23.
Chelsea 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 a sister company in June this year, with the deal believed to be worth in excess of £150million.
