Chelsea sell training ground to get around financial problems: report

By
published

A former football finance advisor has revealed how Chelsea have reported the sale of their Cobham Training Ground

Chelsea chairman Todd Boehly
(Image credit: Adam Davy)

Chelsea may have got creative in their efforts to get around Profit and Sustainability Rules (PSR) before the season ends, according to reports.

The Blues have been the biggest-spending club in the world in recent years, splashing out more than €1 billion on transfer fees since Todd Boehly took the reins in 2022.

That astonishing outlay hasn’t led to success, however, with the Blues finishing last season 12th in the Premier League and now sitting seventh with two games to go in 2023/24. In March, Chelsea reported a £90 million pre-tax loss for the year ending June 2023, after a £121.4m loss in the previous financial year.

That raised questions about how the club would remain in line with Premier League and UEFA financial rules, after a season in which Everton and Nottingham Forest suffered points deductions for breaches of PSR.

Now Manchester City’s former financial advisor Stefan Borson has reported that Chelsea “have attempted to sell (or have actually sold) their Cobham Training Ground to themselves (ie intra-group.)”

“Their lawyers applied to register this dealing in early February (after the window creaked shut),” he explained on X (formerly Twitter).

“So Chelsea's 23/24 PSR confidence appears to be based on this intra-group accounting profit to outweigh the expected £200m+ operating loss.”

Borson posted an application enquiry made in February and raised a few questions alongside it.

He wrote: “Has it been approved by the PL? Is there really over £100m-150m FMV profit to be had from Cobham? And was the property validly held anyway because Chelsea Training Ground Limited was dissolved in 2015 giving rise to a potential bona vacantia issue? Other sales too?”

LONDON, ENGLAND - MAY 28: General view outside the stadium prior to the Premier League match between Chelsea FC and Newcastle United at Stamford Bridge on May 28, 2023 in London, England. (Photo by Alex Davidson/Getty Images)

(Image credit: Getty Images)

The report comes after David Ornstein of The Athletic reported that Chelsea were “confident” of not having to make further sales before June 30 to avoid PSR breaches for 2023/24.

Borson posed the question: “Is this why Chelsea have told Ornstein they no longer need to sell before 30 June 2024?”

Chelsea face Brighton away on Wednesday before completing their season at home to Bournemouth on Sunday. 

More Chelsea stories

'There wasn’t much communication': Juan Mata opens up on his dramatic Chelsea exit

Manchester United: Thomas Tuchel ignites rumours over potential

Premier League move Arsenal could make Brazilian wonderkid their first summer signing: report

Alasdair Mackenzie

Alasdair Mackenzie is a freelance journalist based in Rome, and a FourFourTwo contributor since 2015. When not pulling on the FFT shirt, he can be found at Reuters, The Times and the i. An Italophile since growing up on a diet of Football Italia on Channel 4, he now counts himself among thousands of fans sharing a passion for Ross County and Lazio.