The Millennium and Copthorne hotels were sold by Chelsea FC Holdings Ltd to BlueCo 22 Properties Ltd in June 2023; both companies are ultimately owned by BlueCo 22 Ltd, Chelsea's holding company; the sale ensures Chelsea avoid falling foul of the Premier League's spending rules
Wednesday 4 September 2024 18:46, UK
The Premier League has cleared the sale of two Stamford Bridge hotels by Chelsea's owners to an associated company.
The Millennium and Copthorne hotels were sold by Chelsea FC Holdings Ltd to BlueCo 22 Properties Ltd in June 2023. Both companies are ultimately owned by BlueCo 22 Ltd, which is Chelsea's holding company.
The £76.5m deal meant Chelsea made a loss of £89.9m instead of £166.4m in their 2022/23 accounts.
The Premier League's financial rules allow clubs to make a maximum loss of £105m over a rolling three-year period.
The sale has been cleared because the deal has been deemed to be fair market value.
Chelsea are confident they will continue to comply with the Premier League's financial rules.
Chelsea were one of the Premier League's biggest spenders this summer with an outlay of £202.6m, around half of that was spent on Pedro Neto (£54m) and Joao Felix (£46.3m).
Manchester United (£205.9m) and Brighton (£192m) were also high in the spending table with Chelsea, who also agreed deals for Willian Estevao (£29.1m) and Mike Penders (£17m) to join next summer.
The Blues also recorded table-topping returns for cash received from player sales, with £172.3m coming into the club.
Manchester City were second behind Chelsea's with £146.9m made in sales - boosted by Atletico Madrid spending £82m on Julian Alvarez.
Chelsea finished the summer with a net spent of little over £30m.
In
Kiernan Dewsbury-Hall - Leicester, £30m
Marc Guiu - Barcelona, £5m
Omari Kellyman - Aston Villa, £19m
Tosin - Fulham, free
Pedro Neto - Wolves, £54m
Renato Veiga - FC Basel, £12m
Caleb Wiley - Atlanta United, undisclosed
Estevao Willian - Palmeiras, £29.1m*
Filip Jorgensen - Villarreal, £20.7m
Aaron Anselmino - Boca Juniors, £15.6m
Joao Felix - Atletico Madrid, £46.3m
Mike Penders - Genk, £17m*
Jadon Sancho - Manchester United, loan
*transfer fee not included in total as player joining in 2025
Out
Conor Gallagher - Atletico Madrid, £36m
Romelu Lukaku - Napoli, £25.2m
Alfie Gilchrist - Sheffield United, loan
Chinoso Chibueze - Stoke, undisclosed
Jamie Cumming - Oxford, undisclosed
Michael Golding - Leicester, undisclosed
Lewis Hall - Newcastle, £28m
Omari Hutchinson - Ipswich, £18m
Ian Maatsen - Aston Villa, £37.5m
Kepa Arrizabalaga - Bournemouth, loan
Mike Penders - Genk, loan
Charlie Webster-Burton, undisclosed
Hakim Ziyech - Galatasary, undisclosed
Dion Rankine - Wigan, free
Thiago Silva - Fluminense, free
Josh Brooking - Released
Noah Hay - Released
Ted Curd - Hampton & Richmond, loan
Teddy Sharman-Lowe - Doncaster, loan
Dylan Williams - Burton, loan
Andrey Santos - Strasbourg, loan
Malang Sarr - Lens, free
Eddie Beach - Crawley, loan
Gabriel Slonina - Barnsley, loan
Aaron Anselmino - Boca Juniors, loan
Diego Moreira - Strasbourg, undisclosed
Lesley Ugochukwu - Southampton, loan
Bashir Humphreys - Burnley, loan
Leo Castledine - Shrewsbury, loan
Tino Anjorin - Empoli, undisclosed
Romelu Lukaku - Napoli, £37.9m
Djordje Petrovic - Strasbourg, loan
Ronnie Stutter - Burton, loan
Raheem Sterling - Arsenal, loan
Armando Broja - Everton, loan
Angelo Gabriel - Al Nassr, £19m
