Premier League clubs reject rule changes on fixed assets. Premier League clubs, including Chelsea, will continue to sell assets such as hotels to owner-linked companies without facing penalties. Chelsea’s 2023 sale of two hotels, included in their profit and sustainability figures, sparked controversy. They also sold their women’s team to a related company for £200m, a deal still under review. Premier League rules require such transactions to be at fair market value. The proposal to amend fixed asset rules lacked support for a vote, as reported by PA news agency. Clubs anticipated no vote at the Harrogate meeting. This marks the third recent instance of Premier League clubs opting against rule changes, contrasting with the EFL’s stricter 2021 regulations. Many Premier League clubs face challenges with current profit and sustainability constraints, prompting innovative strategies and calls for rule modifications. Chelsea’s women’s team sale generated a £130m net profit. Recently, Reddit co-founder Alexis Ohanian invested £20m for a 10% stake, aligning with Chelsea’s valuation of their Women’s Super League and FA Cup champions.
Premier League to keep ability to sell hotels to related companies
Not enough support was garnered amongst Premier League clubs to hold a vote on changing rules relating to fixed assets. The decision means Premier League clubs like Chelsea will still be able to sell hotels to a company linked to their owners without penalty. The Blues sold two hotels in 2023 and included the generated…
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