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Big clubs exploiting PSR loopholes to maintain 'Big Six' status quo

The Journal

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June 27, 2025

PSR rules are 'full of loopholes' and have prevented Newcastle United from using owner money to 'challenge the existing elite'.

- By CIARAN KELLY Football writer

That is the view of football finance expert Kieran Maguire after Chelsea sold their women's team to a sister company for £200m to help comply with PSR rules.

The deal remains subject to top-flight approval - just as the sale of two club-owned hotels previously did before the value of the transaction was reduced - but Premier League chief executive Richard Masters insisted that Chelsea 'had not exploited a loophole'. Maguire, however, felt a little differently.

“The Premier League PSR rules are about as fit for purpose as a chocolate teapot,” he wrote.

“Chelsea FC Holdings made a profit of £128m in 23/24 after selling the women’s team to itself.

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