Chelsea’s insane transfer spending forces UEFA into action: Financial Fair Play rules are being adjusted

© EPA-EFE

The European football association UEFA is going to adjust its Financial Fair Play rules by the next transfer mercato due to the way Chelsea managed to get around them this month. That writes the reliable English newspaper The Times and is taken over by other British media.

Wim Conings

Chelsea has already made about twenty incoming transfers this season under the reign of new owner Todd Boehly. Last week it captured the Ukrainian Mykhaylo Mudryk for an amount of 100 million euros (including bonuses), while it previously also acquired Wesley Fofana (80 million euros), Marc Cucurella (65 million euros), Raheem Sterling (56 million euros) , Benoît Badiashile (38 million euros), Kalidou Koulibaly (38 million euros), Noni Madueke (35 million euros), Pierre-Emerick Aubameyang (12 million euros), Joao Felix (11 million euros for six months’ rent) and a number of others contracted others. As a result, they already have over 500 million euros in sporting reinforcements, the highest amount a club has ever spent in one season.

Very long contracts

Chelsea thus seemed to be in breach of Financial Fair Play, which states that clubs are not allowed to spend (sensibly) more than their income. Only they managed to get around that rule by giving the players very long contracts. Where normally contracts of three to five years are common, they gave The Blues Mudryk a contract of eight and a half (!) years. Because the amortization of transfer fees can be spread over the entire term of a contract, the ‘cost’ of Mudryk reduced to less than 12 million euros per year. An accounting trick they also used for the other players.

Maximum term of five years

But after complaints from other clubs, who rightly argue that Chelsea is given a competitive advantage, UEFA now wants to limit this. From the next transfer window in July, clubs will therefore be obliged to pay transfer fees over a maximum period of five years. This will no longer have any consequences for the current transfer period or the contracts already concluded with the Londoners. Chelsea are currently linked to Lyon right-back Malo Gusto, Benfica midfielder Enzo Fernandez and Everton midfielder Amadou Onana are also on the list.

Chelsea has already made about twenty incoming transfers this season under the reign of new owner Todd Boehly — © AP

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