Kieran Maguire: Uefa’s Chelsea ‘punishment’ has backfired amid game-changing FFP reveal
Uefa’s attempts to close a Financial Fair Play loophole that allowed Chelsea to game the system has in fact given the club another advantage over their rivals.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the strategy behind the Blues’ big-spending exploits in the transfer market.
Chelsea have already spent close to £400million since Todd Boehly bought the club last May, and it has been widely reported that they have now lodged a £105million bid for Benfica and Argentina midfielder Enzo Fernandez.
Taken at face value, that level of spending would see them fall well outside the parameters defined under both Uefa and the Premier League’s spending restrictions.
But Chelsea have handed ultra-long-term contracts to their new stars, with the transfer fees amortised over those timeframes and thereby offset under the terms of FFP.
As relayed by The Times last Tuesday (24 January), Uefa have now introduced a five-year limit on the time frame over which a new recruit’s fee can be spread, which will be introduced from the start of next season.
But Maguire believes that the new limit will actually crystalise the advantage that Chelsea have made for themselves by pursuing this strategy.
“I think this is a win for Chelsea,” he told Football Insider’s Adam Williams.
“They get the benefits of signing players on ultra-long deals. Clubs will continue to be able to do so until the 30 June.
“If that’s your strategy, you can get in early and get the benefits. Those that don’t have that strategy don’t get those benefits.
“Rather than punishing Chelsea, this actually gives them a competitive advantage over other clubs that will be limited to five years when Chelsea are signing six, seven and eight-year deals.
“Remember, from 1 January we have also entered the new iteration of Uefa’s spending rules, which are being phased in from 90 per cent this year, then 80 per cent next year and finally 70 per cent in 2025.”
In other news, pundit backs Thiago Silva to finalise Chelsea deal amid “big” claim.