Chelsea dealt transfer blow as Premier League plugs Boehly loophole

Tom Weber

Updated: 12 Dec 2023 15:02 GMT
3 min read

Premier League clubs have voted to shut the league's amortisation loophole, dealing a blow to Chelsea in particular.

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Since Todd Boehly took over stewardship of Chelsea from Russian oligarch Roman Abramovich, the word 'amortisation' has entered Premier League jargon, though the practice itself is, of course, nothing new.

Under the American owner, Chelsea have spent north of €1 billion on new signings without breaking Financial Fair Play regulations because of amortisation. The Blues have been able to operate within the financial restrictions by handing out massive contracts that run seven or eight years, thereby spreading out and reducing the annual expenditure on the club's balance sheet.

Robert Sanchez, Djordje Petrovic, Wesley Fofana, Malo Gusto, Benoit Badiashile, Romeo Lavia, Lesley Ugochukwu, Enzo Fernandez, Moises Caicedo, Noni Madueke, Mykhailo Mudryk, Cole Palmer, Deivid Washington and Nicolas Jackson all signed at least seven-year deals at Chelsea after joining the club under Boehly’s reign.

Premier League vote

UEFA had already clamped down on this in June by limiting the amortisation to five years, but the loophole continued to exist in the Premier League, where sides not playing in UEFA competitions - such as Chelsea, who finished 12th last term - have still been able to exploit the practice.

However, according to The Athletic, the Premier League is finally set to bring its rules in line with those of UEFA. Premier League clubs have voted in favour of limiting the amortisation period to five years, though it will not be backdated, meaning that Chelsea will continue to benefit from their previous deals.

Incredibly, the report asserts that the Blues were among the 15 clubs to vote in favour of the amendment. The rule change, of course, only affects the amortisation period, not the length of contracts. Clubs can continue to hand out deals that run for seven or eight years or even longer.