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Big clubs exploiting PSR loopholes to maintain 'Big Six' status quo
The Journal
|June 27, 2025
PSR rules are 'full of loopholes' and have prevented Newcastle United from using owner money to 'challenge the existing elite'.
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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