UEFA have confirmed a new transfer market reform that will prevent clubs such as Chelsea from spending huge amounts of money on fees spread over more than five years.
The governing body's executive committee voted in favour of the change, which was framed as a financial fair play loophole. From this summer onwards, clubs must pay the fees within five years of a deal being struck - although players can continue to sign longer contracts, the Mirror reports.
In a statement, UEFA said the change is “important” and explained: “The amortisation of the player’s registration will be limited to five years in order to ensure equal treatment of all clubs and improve financial sustainability.
“In case of contract extension, the amortisation can be spread over the extended contract period but up to a maximum of five years from the date of the extension. Such a change will not restrict the way in which clubs operate and will not apply retroactively to transfer operations that have already taken place.”
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This could have a major impact on Chelsea, who have signed 10 different players to contracts lasting six or more years since the 2022 summer window. This includes centre half Wesley Fofana for seven years, defenders Benoit Badiashile and Malo Gusto, winger Noni Madueke for seven and a half and Enzo Fernandez and Mykhailo Mudryk for eight and a half.
Manchester City and Manchester United's Premier League rivals spent over £600m across the last two transfer windows as players signed long-term contracts.
UEFA also clarified that clubs must assess whether a player is moving in a swap deal to dissuade “transfer operations taking place with the sole intent to artificially inflate transfer profits rather than for sporting purposes”. European football chiefs added that “it is now required that clubs’ auditors confirm the correct application of the described accounting requirements and report any discrepancy should this not be the case”.
Meanwhile, the executive committee said that the title of its newest club competition, won by West Ham United, will be shortened to UEFA Conference League from the upcoming season, losing its Europa affixation.
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