Ugarte to be kidding me! Boehly’s Chelsea transfer plan COLLAPSES

Robin Bairner

• 5 Jun 2023 01:49 CDT
• 3 min read

Chelsea’s move to seal a transfer for Sporting CP’s Manuel Ugarte has collapsed, with PSG claiming that the move would have fallen foul of financial regulations.

The Blues were in pole position to land the 22-year-old Uruguay international ahead of PSG, but according to The Mirror, the Ligue 1 club are claiming their approach to the transfer was illegal.

Chelsea, on the contrary, are briefing that they did not want to pay above market value for the player – the reason Liverpool also pulled out of a deal, FootballTransfers exclusively revealed.

MORE: Real Madrid target 'value for money' Chelsea FLOP

Everything had previously appeared in place for Ugarte to move to Stamford Bridge, with terms on a €3.5 million-per-year deal in place for a contract that spanned between six and eight years, depending on the report.

The defensive midfielder now appears destined to join PSG, who have also agreed to pay the €60m release fee in Ugarte’s Sporting contract and have reportedly agreed personal terms with the youngster.

It means that Ugarte’s dream of playing in the Premier League – something he was ready to sacrifice in the region of €1.5m a season for – has ended for the moment.

PROFILE: Ugarte is the perfect midfield destroyer for Chelsea

Why Ugarte’s Chelsea transfer has collapsed

Doubts started to emerge over Chelsea’s capacity to sign Ugarte on late on Sunday, when The Mirror reported that has part of the deal to sign the player, the Blues were ready to buy a stake in Sporting CP. There was a feeling that this would help them circumvent Financial Fair Play (FFP) regulations.

Owner Todd Boehly has shown a capacity to think outside the box with regards these laws since buying the club little over a year ago, notably catching the eye with long contracts to young players, which minimise the immediate impact of big-money moves on the club’s finances.

This move, it is claimed, was too risky even for the American.