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Sources: Premier League to stamp out Chelsea loophole after £150m reveal
The Premier League is planning to change its Financial Fair Play rules to cancel a loophole exploited by Chelsea, Football Insider understands.
The Blues have handed out long-term contracts to new signings in order to spread out the cost of their transfer fee over multiple years.
It’s a tactic that has been adopted by Todd Boehly following his £4.25bn takeover of the club last year.
Since that takeover, Chelsea have spent over £800million on new arrivals in the transfer market.
However, because of their amortisation and long-term contracts, the accounting costs only sit at around £150million per year.
Moises Caicedo is the latest to join the Blues for a British record £115million fee from Brighton.
The Ecuadorian became the 22nd player in Chelsea’s squad to sign a contract longer than five years at Stamford Bridge.
Uefa moved quickly to stamp out amortisation loopholes by introducing a five-year cap on spreading transfer costs.
Chelsea are currently unaffected by Uefa’s ruling after failing to qualify for Europe this season, but a return to European competition would see them have to abide by the five-year cap.
The Premier League now look set to emulate Uefa and introduce a similar five-year rule to stamp out long-term amortisation.
Chelsea would still be allowed to sign players on long-term contracts to protect the value of players long-term, but all transfer costs would have to be accounted for within five years.
The Daily Mail state that Chelsea could be at risk of breaching Premier League Financial Fair Play if the regulation change is passed.
In other news, Chelsea in hunt to sign MLS star Petrovic