Chelsea went on a spending spree like a rich kid with Daddy’s credit card in January’s transfer window. But it might land the London club in deep trouble.
They forked out a record-sized £301 million (R6.6 billion) in just the month. The Blues’ splurge has now landed them on a “watch list” by European football’s controlling body, Uefa.
The club was bought by American billionaire Todd Boehly and a consortium of investors in May last year. The new owners have spent over £500 million (R10.5 billion) since the last European summer.
But now that they’ve spent the money, Chelsea need to make sure there’s a payout in terms of results on the field or they risk punishment.
The Blues will have to finish in the top four of the Premier League this season or else they face breaching Financial Fair Play (FFP) rules.
Uefa introduced a “squad cost control” rule in terms of which clubs are only permitted to spend 90% of their revenue annually on player wages, transfer and agent fees.
If Chelsea do not qualify for the Uefa Champions League next season, they will receive less money and be forced to ship off several players to stick within the rules.
“Chelsea’s wage bill in 2021 was £333 million and that was before the club made an investment in a myriad of players on long-term contracts who are also presumably very well remunerated,” football finance Analyst Kieran Maguire said, The Times reported.
“The thing that is most likely to be able to dig Chelsea out of this deep pit is that they do have players who have come through the academy who count as a zero cost in FFP. They could be sold for significant sums.”
That means the likes of Ruben Loftus-Cheek, Conor Gallagher and Callum Hudson-Odoi could all face the exit door if Chelsea fail to improve results.
Graham Potter’s side currently sit in 10th spot on the Premier League standings, only winning eight of their 20 fixtures this season.
It seems impossible for Chelsea to qualify for the Uefa Champions League this season — unless they win it, of course.
Chelsea are back in action, with a much grander squad, on Friday night, when they take on close neighbours Fulham at 10pm.
Pictured above: Chelsea’s recent recruit Enzo Fernandez
Image source: @ChelseaFC
