Chelsea leave Rio Ferdinand dumbstruck as he makes Todd Boehly thoughts clear
Rio Ferdinand has been left stunned by the financial state of Chelsea under Todd Boehly after a Premier League profitability and sustainability rules list emerged
Ex-Manchester United defender Rio Ferdinand has expressed his surprise at Chelsea topping a list ranking the healthiest Premier League clubs based on profitability and sustainability rules (PSR). On his podcast, Rio Reacts, the former England star was taken aback to see the Blues firmly positioned at the top with £300 million banked in sales despite their substantial spending under Todd Boehly.
The Blues have shelled out more than £1.1billion over the past three years, consistently leading the Premier League's spending charts. Despite this, they have managed to steer clear of PSR violations.
In conversation with football finance expert Kieran Maguire, Ferdinand couldn't conceal his astonishment. "I've got a list of the healthiest PSR clubs. Chelsea? How the hell are Chelsea top, please, with £300m?" Ferdinand queried.
Under the current regulations, Premier League clubs are prohibited from having losses exceeding £105m over a three-year period. Maguire elucidated how the Blues are actually exploiting a notorious loophole provided by the Premier League.
"In terms of Chelsea, having this £300m - £200m of that comes from selling the women's team to themselves, and another £70m, or £60-£70m, comes from selling a couple of car parks to themselves as well," Maguire explained. "Without that, Chelsea would be in a really tricky position."
When questioned about the legality of such dealings, Maguire confirmed it was above board, stating: "It's in the Premier League rules. The Premier League had the opportunity to close that loophole last week and the club owners decided they quite liked it as it seems a 'get out of jail free' card that Chelsea have used and perhaps other clubs might say we want to use that as well."
It's thought that Chelsea eased their financial concerns using this very loophole. The club's accounts, released in April 2024, revealed an astonishing loss of £89.9m in the previous financial year.
However, without their shrewd sale of two hotels from Chelsea FC Holdings Ltd to Blueco 22 Properties Ltd, which brought in £76.5m, that figure would have been a whopping £166.4m. Both companies are subsidiaries of Chelsea's parent company, Blueco 22 Ltd.
Despite the scrutiny of Chelsea's spending since Boehly's takeover, they have consistently adhered to financial regulations. They've also raked in nearly £500m from player sales, a fact that Ferdinand was quick to commend Boehly for.
"You've got to give it to Chelsea, yeah," He said. "Their owners have come in, they've created a new model right, everyone laughed at them, everyone ridiculed them, said, 'There's no chance they're going to finish anywhere, if you were a player you'd never sign for Chelsea'.
"They've swept up some of the best talents in the world. They've gone full throttle with it and backed themselves, and then found a few loopholes, that some people are turning their nose up at, but if there's a loophole there to be had, it's there to be had, and they've exploited that and that's the Premier League's doing, not theirs.
"They've seen it, gone for it and then used it to their own benefit. Their model in terms of selling players, I don't think it can be beaten at the minute - them and City probably."
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