The Premier League has approved Chelsea’s £76 million sale of two hotels, helping the club avoid breaching Profitability and Sustainability Regulations (PSR).

On Wednesday, the Premier League approved the sale of two hotels by Chelsea’s owners to an associated company. In June 2023, Chelsea FC Holdings Ltd sold the Millennium and Copthorne hotels to BlueCo 22 Properties Ltd, both of which are owned by BlueCo 22 Ltd, Chelsea’s holding company.

The £76.5 million generated from the sale reduced Chelsea’s financial loss in the 2022/2023 accounts from £166.4 million to £89.9 million. Under Premier League financial regulations, clubs are allowed a maximum deficit of £105 million over a rolling three-year period.

The Premier League cleared the deal after determining that the sale reflected fair market value.