CHELSEA have sold their women’s team to THEMSELVES in a loophole to avoid PSR punishment.
The Blues today announced profits of £128.4million before tax – a huge increase on last year’s loss of £90.1m.
It means they will go another year without being hit by any PSR sanctions after splashing over £1.2billion on new signings.
And Chelsea achieved their latest figures after effectively selling their women’s team to themselves.
Todd Boehly’s club had already benefitted from flogging two hotels at Stamford Bridge to their BlueCo holding company.
It saw them avoid any PSR wrongdoing last year, despite the £90.1m loss.
And now, Chelsea have posted a major profit after doing the exact same thing with their women’s team.
A statement confirmed: “The profit for the year before taxation was £128.4m compared with a loss of £90.1m for the prior year as the club benefited from increased profit on disposal of player registrations and repositioning of Chelsea Football Club Women Ltd.
“This new approach will ensure CFCW has dedicated resources, management and commercial leadership solely focused on the growth and success of the women’s team.”
The news drew instant reactions from fans, with many taking to social media to express their displeasure.
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One said: “It’s a hedge fund with shin pads.”
Another declared: “This is not sustainable.”
One noted: “Next year we’re selling ourselves the lawnmower for £90m.”
Another added: “Going to run out of stuff to sell themselves soon.”
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