Chelsea Football Club might not have to sell their players when the 2024 summer transfer window opens following the failure of the Premier League to block the loophole in the Financial Fair Play ( FFP) rules.
This decision failed to see the light of day at the Premier League’s annual general meeting which was held on Thursday, June 6, 2024. Only 11 clubs voted to block the loophole in the FFP rules against the two-thirds of votes needed for the proposal to be passed into law which is a minimum of 14 clubs.
What does this mean for Chelsea going into this season (2024/25)?
This means that Chelsea along with other clubs will be allowed to use one-off profits from the sale of their assets whenever they are in financial crisis as against selling their key players.
The English Football League stopped its clubs from using artificial profits on property sales in 2021 after more than six clubs sold their stadiums or training grounds to themselves to avoid breaching the PSR limit on permitted losses.
However, that changed this season when Chelsea avoided breaching the PSR limit by selling the two hotels and car parks at Stamford Bridge to a sister company for £ 76.5 million (now $98m). This was enough to reduce the deficit from a loss of £166.4 million loss in 2022-23 into a £89.9 million deficit for the club.
There is a possibility that the league is likely to bring this proposal back for reconsideration in the near future.
Read the Latest Sports News and Get Fresh updates as they drop via Twitter and Facebook
