Premier League opts not to change rules that helped Chelsea comply with PSR

Premier League teams have chosen not to change controversial rules that allow the sale of fixed assets to companies related to a club’s ownership.

Despite discontent among some clubs over the rules, which have helped Chelsea to meet profitability and sustainability rules (PSR) by selling two Stamford Bridge hotels to businesses linked to their owners, no vote was taken on changing them at the league’s annual general meeting in Harrogate on Wednesday.

Under current rules clubs can sell assets to related companies and include the revenue in PSR calculations the following season as long as the deals are seen to have been conducted at fair market value. Chelsea’s hotel sales were ultimately cleared by the Premier League after a lengthy assessment which concluded earlier this year. The process led to the value of the deal being restated, however, at £70.5m in Chelsea’s latest accounts, down from an original £76.5m.

The west London side have also sold their women’s team to a related company at a value of almost £200m last year, helping the club record a net profit of £129.6m for the year ended 30 June 2024.

The Guardian understands that the league was asked by some clubs to table an amendment that would prevent such deals from being included in PSR calculations in future. That proposal was ultimately removed from a series of votes on rule changes, however, after it became clear there was insufficient support amongst the totality of clubs to pass it. All clubs attended the AGM on Wednesday knowing there would be no vote.

This is not the first occasion that clubs have stepped back from changing the rules. Alterations were discussed first in 2021, when the EFL had brought in tougher rules, and then last summer, but no vote was taken on either occasion.

The sale of fixed assets cannot be included in revenue under Uefa’s financial sustainability rules, however and the Blues are expected to have agree a potential financial settlement with European football’s governing body as a result.