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Even according to football’s standards, there was considerable shock. WhatsApps immediately walked drivers on the news that Chelsea had avoided violating the Premier League’s profit and sustainability rules last season by selling their women’s team and other subsidiaries to the club’s parent company.
The Blues announced a profit of £ 128.4m in their financial results for the year ended June 2024, higher than a announced losses of £ 90.1m in the first full year under Todd Behly’s Clearlake Capital Consortium, with fans increasingly dissatisfied with the ownership.
All the jokes about what they can sell next to themselves no longer look like jokes. A hotel is one thing. But a real football team? This is what a club is supposed to be about. This is the whole Raison d’Erre.
It seems that a move like this has summed up the almost Kafkaesque Financial World on summary of football. Some figures even compared it to Serie A from the middle of the 2000s, but it is an evolution of all the Premier League’s own, which contributes a number of problems.
This is also why the shock should go just as far. The Premier League tried to close this loophole in June last year, but only 11 clubs supported it. It was very short of the majority of two -thirds needed, which of course meant almost half the competition, had no problem with the idea that clubs could use one -time payments from the sale of hotels, training grounds and other tangible assets in financial regulatory submissions. The vote on it is also described that it did not go as many people would have expected, with a few surprises on either side.
Such absurd headings come at a particularly untimely moment for the Premier League, as it has constantly argued against the independent football regulator. It seems that this whole story shows one of the core problems with self -regulation, and that clubs can set their own rules.
The English football league prevented its clubs from using ‘artificial profits’ on such sales in 2021, after six clubs sold their stadiums or training grounds to themselves to get within allowed losses. UEFA does not allow clubs to register income from the sale of assets to sister companies.
As one executive it to the Independent“Even UEFA gets this one right”.
The timing is worse for the Premier League as they have experienced a greater investigation into regulatory matters over the past 18 months, and Manchester City’s case still lasts without resolution. The English champions insist on their innocence.
It was known that some in the Premier League were deeply frustrated with this news because they tried to see if it was feasible to bring the rule again at the beginning of this season.
Good regulation, set blunt, do not deliver such absurdities. Things like this are too complicated and great for clubs to vote on themselves, with too many greater consequences and implications, as they will always vote in their own interest.
Figures in European football have begun to wonder if these are the kind of powers that eventually cause the decline of the Premier League. The view is that it worked for a long time when there was a general unit of purpose. It seems too many competing interests among the ownership, illustrated by how they struggle to get certain votes through.
The Premier League is still waiting to get through the group cost ratio, after months of back and forth.
The wonder is also how this step will be watched. Chelsea transferred the ownership of the women’s team to Blueco 22 Midco Ltd on June 28, two days before the June 30 deadline for finance to be registered. Within the club, the line was that it was just about repositioning to reposition this side separately from the men, given their emerging popularity. There was an insistence that it was not about utilizing the loophole.
The valuation of Chelsea women at over £ 150m makes them the second most valuable in the world behind Angel City in the US. A surprise has also been expressed, given how much more commercially successful women’s soccer is in the United States.
The entire edition can still cause a violation of the rules of UEFA. If so, the story will somehow look even more absurd.
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