Chelsea's Caicedo transfer prompts RULE CHANGE to close Boehly's latest LOOPHOLE
Tom Weber
- Updated: 16 Aug 2023 04:11 CDT
- 3 min read
The Premier League is set to change its financial rules after Chelsea exploited a loophole in the Moises Caicedo transfer saga, according to a report.
Amortisation became a buzzword in Premier League circles last season. A long-established accounting technique, it allows clubs to spread the cost of a deal over the duration of the contract - the longer the deal, the lower the hit on the balance sheet.
Todd Boehly, in his first full season at the helm of Chelsea, showed himself to be a master exploiter of this financial loophole in football's rules. The American lavished massive sums of money on new signings and handed out ridiculous contracts, some running as long as eight years.
READ: Chelsea target makes SURPRISE West Ham transfer U-turn
In January, he broke the British transfer record when he signed Enzo Fernandez from Benfica for an eye-watering €121 million and fitted the World Cup winner with a contract until 2031. This forced UEFA to clamp down on this practice, implementing a new rule that only allows clubs to amortise deals over a period of five years.
But then Boehly found another loophole.
Premier League to follow suit
The problem with this UEFA rule is that it only applies to clubs competing in UEFA competitions. Despite Boehly's spending spree, Chelsea missed out on European football last term, meaning that only they are operating within the Premier League's regulatory framework, which does not have these rigid amortisation limits.
This has allowed the Blues to hand record-signing Moises Caicedo an eight-year deal with an option for a ninth after hijacking Liverpool's transfer for the erstwhile Brighton man.
READ: Caicedo SLAMMED for picking Chelsea over Liverpool by Brighton CEO
According to the Daily Mail, clubs are unhappy about this and the Premier League is set to bring its rules in line with UEFA's in a bid to stop it. This will, however, only happen next summer, meaning that Chelsea - and other clubs, of course - can still exploit this oversight this season.
