Chelsea Football Club is currently under scrutiny for its £76.5 million sale of two hotels to a sister company, a transaction that is being reviewed by the Premier League for compliance with its spending rules. The league has yet to approve the deal, which involves the hotels located at Stamford Bridge. Concerns include the fair market value of the sale and its potential implications for a 'material change to the gain recognized' in Chelsea's financial statements, affecting the club's Profit and Sustainability Regulations (PSR). The scrutiny was reported by NizaarKinsella.
More questions have emerged over the loophole that allowed Chelsea to raise £76.5million from selling the two hotels at Stamford Bridge to a sister company Read @martynziegler's notebook ⬇️ https://t.co/7ZJ3eAixv0
Chelsea’s £76.5m hotel deals raise questions over PSR compliance https://t.co/rRIEbB5cwc
Chelsea facing Premier League scrutiny over £76.3m hotel sales ✍️ @NizaarKinsella https://t.co/IV7EOUIefp
NEW: Chelsea’s £76.5m hotels deal still under scrutiny from Premier League over “fair market value”. Accounts refer to possible “material change to the gain recognised in these financial statements”. Could have PSR implications. ⬇️⬇️⬇️ https://t.co/6uOliLMfyb
Chelsea’s £76.5m hotels deal under scrutiny from Premier League West London club could be in danger of breaching spending rules, with Premier League yet to approve value of owners’ sale of hotels to sister company Tap for the full story⬇️ https://t.co/jcuBnI97Ot