UEFA decision could pave way for Chelsea's summer squad overhaul
The UEFA announced a series of “emergency measures” which will relax the FFP regulations for clubs who compete in UEFA competitions, including Chelsea.
The football governing body released the statement yesterday June 18 but interestingly has deleted it from their official website today.
The statement addressed financial issues caused by football shutdown due to the COVID-19 pandemic.
According to the statement, clubs can make losses greater than initially permitted which was €30million (£27m) over a three-year period.
The club owners are also temporarily allowed to put more money into their clubs to cover the increased losses.
UEFA also stated that the 2020 financial year will not be assessed under the FFP regulations and will be rolled up into 2021 instead, and the two years will be assessed together as single financial period.
In the deleted statement, UEFA said the measures were intended to “give clubs more time to quantify and account for unanticipated loss of revenues” (as quoted by the Guardian).
What does it mean for Chelsea?
Despite seemingly having plenty of budgets from player sales such as Eden Hazard and Alvaro Morata, in addition to two previous inactive transfer windows, the pandemic will still inevitably affect Chelsea.
Not to mention in January, Chelsea released their annual financial report in January which revealed an after-tax loss of £96.6m in 2019 financial year.
But with the new measures, it would allow billionaire owner Roman Abramovich to cover some of the losses.
Chelsea have spent a reported £84.5m on their two early summer signings; Hakim Ziyech (£37m) and Timo Werner (£47.5m) (The Guardian).
These expenses will be amortised over the length of their respective contracts (both five years) which means the Blues will be paying around £17m per year for the next five years for these two players from UEFA’s perspective.
If you look at it this way, splashing the cash for Bayer Leverkusen’s Kai Havertz or Leicester City’s Ben Chilwell who could cost over £50m each, does not sound so inconceivable.
- Report: Leicester City refuse to sell Ben Chilwell even for £50m
- Azpilicueta speaks about Chelsea’s plan to bring the best out of Timo Werner
- ‘They’ll be in a different world’: Mourinho comments on Ziyech and Werner’s Chelsea transfers