A financial expert reveals how Chelsea exploited a loophole in Financial Fair Play rules to sign Moises Caicedo from Brighton.
Caicedo has completed his medical at Chelsea ahead of a British record £115million move.
The midfielder reportedly arrived at the Chelsea training ground on Monday morning and completed that part of the process by lunchtime.
Mauricio Pochettino’s side are said to be paying an initial £100million, plus £15million in achievable performance-related add-ons. The player will reportedly sign until June 2031, with the option of a further year.
The Blues have now turned their attention to Romeo Lavia, having made a £55million for the 19-year-old on Friday night. Meanwhile, Crystal Palace’s Michael Olise is also said to be a target.
It is proving to be another busy window for Chelsea’s owners Todd Boehly and Clearlake Capital. They broke the British transfer record back in January when they signed Argentina international Enzo Fernandez for £106.8million.
Moreover, should the deal for Caicedo be concluded as expected it will bring the club’s spending under Boehly and Clearlake to almost £900million since they bought the club last May.
There have since been questions among fans over whether Chelsea are falling foul of financial fair play rules.Since Boehly’s arrival Chelsea have handed signings long-term contracts to spread costs. It is a creative accounting practice used by clubs to balance the books, by gradually writing off the initial cost of a player over the course of their contract.
However, UEFA reacted by deciding that from this summer window clubs will be able to offer long deals but will be limited to spreading out the cost of fees to a five-year period.
Long-term this is a blow to Chelsea. However, in the short term, it is not an issue as they are not playing in European competition this season.
Football finance expert Kieran Maguire explained on Twitter: “Contract length can be any period. Amortisation under UEFA but not PL rules limited to 5 years from this summer. Not an issue for Chelsea as not playing in Europe.”
Chelsea have also conducted a clear-out since the end of last season and have raised money by moving 12 players out so far this summer.
Moreover, they are set to loan goalkeeper Kepa Arrizabalaga to Real Madrid while Romelu Lukaku, Conor Gallagher, Ian Maatsen, Trevoh Chalobah, Hakim Ziyech and Callum Hudson-Odoi have all been linked with permanent moves away this summer.
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