Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Evening Standard
Evening Standard
Sport
Nizaar Kinsella

Chelsea: Premier League clubs vote to close amortisation transfer loophole new owners exploited

The Premier League have decided to limit contract amortisation to just five years which Chelsea successfully exploited across three transfer windows.

At least 14 clubs voted on Tuesday afternoon to close the Financial Fair Play (FFP) loophole used by the Blues to spread the cost of transfers over multiple seasons.

Chelsea, perhaps surprisingly, were one of these who voted in favour amid reports of a change to their transfer strategy.

Contract amortisation, a process used to write off large transfer fees over the length of contracts, is used by all Premier League clubs, but Chelsea took full advantage by signing players on eight- or nine-year contracts.

UEFA closed the loophole in the summer and on Tuesday the Premier League has followed suit.

Chelsea will be relieved that the regulation changes are not being backdated, allowing them to benefit from past deals.

Enzo Fernandez, Moises Caicedo, Mykhailo Mudryk and Nicolas Jackson are all under contract until 2031, with their transfer fees - totalling more than £300m combined - spread across the length of those contracts.

Romeo Lavia, Cole Palmer, Noni Madueke, Benoit Badiashile, Malo Gusto, Robert Sanchez and Djordje Petrovic are on similar deals until 2030.

But the innovative Boehly-Clearlake experiment will end after Chelsea spent over £1billion across the last three transfer windows.

It is unlikely to cause any immediate issues for Chelsea but the latest developments will likely slow their unprecedented spending.

Chelsea signed and sold players are a speed not seen in modern football but have struggled to turn investment into results, remaining 12th in the Premier League after 16 games, the position in which they finished last season.

The club posted a loss of £121m in their most recent accounts and are under investigation after self-reporting “incomplete financial information” to the FA, dating back to Roman Abramovich’s ownership.

Uefa fined the club £8.6m over the admission but the FA will be able to look into the accounts over a more extended period.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.