Premier League Clubs Turn to ‘Creative’ Accounting to Spend Big
Chelsea F.C. women’s team celebrate following their team's victory in The Adobe Women's FA Cup Final match between Chelsea and Manchester United, in May.
Photographer: Julian Finney/Getty Images
When Chelsea F.C. reported earlier this year it had sold its women’s team to its own parent company for nearly £200 million ($269 million), investors scratched their heads: the team looked like it was only worth a quarter of that amount.
The transaction made more sense when considering that the London soccer club’s owners, BlueCo 22, are led by Los Angeles Dodgers co-owner Todd Boehly, who wants to invest more in the men’s squad without breaking Premier League spending rules.