Revealed: Chelsea owners bankroll £175m injection - official documents filed
Chelsea have received a £175million injection from their owners in the form of a new share issue, sources have told Football Insider. As per a... The post Revealed: Chelsea owners bankroll £175m injection - official documents filed appeared first on Football Insider.
Chelsea have received a £175million injection from their owners in the form of a new share issue, sources have told Football Insider.
As per a Companies House submission on Monday (29 July), Chelsea FC Holdings Limited purchased 1,000 new shares.
Each share was purchased at a price of £1.75million per one pence share, taking the total investment to £175million.
It is so far unclear whether the investment comes in the form of a cash injection or the conversion of debt into equity.
The share issue can be backdated to 29 June, meaning Chelsea received the financial boost one day before the 30 June accounting deadline.
The West Londoners were believed to be close to breaching the profit and sustainability rules (PSR) last season before making some last-ditch player sales prior to submitting their accounts.
Chelsea have exploited loopholes to bypass PSR rules
Finance expert Stefan Borson revealed on 11 July Chelsea had sold their women’s team to parent company BlueCo on 28 June to potentially circumnavigate the PSR rules for 2023-24.
The Times reported on 17 July the Premier League is now reviewing the sale to ensure it complies with rules around associated party deals and is fair market value.
Borson told Football Insider top-flight clubs are likely to protest against the women’s team sale if it’s pushed through at a high value following suggestions the deal could be worth between £150-200million.
It isn’t the first time Chelsea have attempted to exploit a loophole and bypass the PSR rules after they sold two Stamford Bridge hotels to a sister company for a total of £76.5million to offset their major losses for 2022-23.
The London giants posted a loss of £90million in the 2022-23 financial year alone, with current Premier League rules stating top-flight sides can lose a maximum of £105million over a rolling three-year period.
In other news, Newcastle close in on deal for Chelsea star as terms agreed.
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The post Revealed: Chelsea owners bankroll £175m injection - official documents filed appeared first on Football Insider.
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