Amortisation over a long-term deal. Heavily incentivised contracts. A couple of relatively quiet windows before Roman Abramovich was forced to sell the club. There’s been a lot written over the past few months about how Chelsea can afford a spree that will hit £620m when the Christopher Nkunku deal happens next June. But perhaps the bigger question is why? What on earth are they doing?
Structure the deals as cleverly as you like, that money still has to be paid at some point. Chelsea’s spending has been of the sort you would expect from a megalomaniac billionaire taking over a club, when the point is to have fun or make a splash, when long-term planning means less than “Get me Robinho, now!” In that regard, the careful squad-building of the Saudi Public Investment Fund at Newcastle has been a huge disappointment.
