Monday, January 30, 2023

UEFA working on Chelsea’s huge January spending spree by ‘closing’ loophole

UEFA working on Chelsea’s huge January spending spree by ‘closing’ loophole

According to reports, UEFA will close a “loophole” that Chelsea exploited by handing out long-term contracts during the January transfer window.

This month, the Blues have signed an astounding six players. David Datto Fofana, Andrey Santos, Benoit Badiashile, Mykhailo Mudryk, and Noni Madueke have all joined on a permanent basis, while Atletico Madrid has loaned Joao Felix.

The owner of Chelsea, Todd Boehly, is desperate to support manager Graham Potter following the club’s dreadful start to the Premier League season. Their ability to spend so much is due to the spread out nature of the payments.

Mudryk, for instance, signed the longest contract in the history of English football when he signed an eight-and-a-half-year deal. Consequently, his £80 million transfer fee will be reduced to £ 9.41 million according to UEFA’s FFP calculations.

In the coming months, this will change, according to the  Times. The governing body of European soccer will impose a five-year maximum payment period for transfer fees. The new policy will be implemented prior to the summer transfer window.

FIFA regulations stipulate that contracts should not exceed five years unless a country’s law permits longer terms. There are currently no restrictions in place in the United Kingdom.

Chelsea will not be prevented from spreading out payments for previously-signed players.

Datro Fofana and Badiashile have respective contracts of seven-and-a-half and six-and-a-half years. Wesley Fofana, who arrived in the summer from Leicester City, has a seven-year contract.

“It is simply shifting a problem to the future. Either a club can get stuck with a player on a high salary that they cannot sell, or if they sell him after three or four years they will not realise much profit [in accounting terms] because a lot of his transfer fee has not been amortised.”

Potter admitted earlier this month that Chelsea’s issues cannot be resolved by constantly dipping into the market.

Potter also stated that he does not have the final say regarding incomings. After Saturday’s 0-0 draw with Liverpool, he explained, “I don’t think it’s as simple as saying they’re mine.

“For the head coach, it’s very difficult to also have command over these targets and have a list of players that are ‘yours’.

“I think my job is to support the club, which is a recruitment team, ownership group, whether it’s transfers, daily environment, or winning matches.

“It’s a club, we’re trying to win together as a club. Whilst I have an input on everything, I’m not the guy that sits in a room and decides everything.”

UEFA working on Chelsea’s huge January spending spree by ‘closing’ loophole

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