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£76.5m Chelsea hotel sale cleared by Premier League

Chelsea have been cleared by the Premier League for the sale of two hotels to a sister company to keep them compliant with profit and sustainability rules (PSR).

The Blues published their accounts in April, revealing the sale of the Millennium and Copthorne hotels next to Stamford Bridge for £76.5m in an effort to help them avoid a potential £166.4m loss, reducing it to an allowable £89.9m for the financial year.

The hotels changed ownership from Chelsea FC Holdings Ltd to BlueCo 22 Properties Ltd, two companies under the control of the Todd Boehly and Clearlake Capital ownership.