Kieran Maguire: Chelsea have '£40m' FFP problem as new takeover details emerge
Chelsea earn around £40million per season less in matchday income than their elite Premier League rivals – and that puts them at a disadvantage under the new Financial Fair Play rules.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the Blues’ spending power under new owner Todd Boehly.
Boehly completed the £4.25billion purchase of Chelsea last month (30 May) after months of turmoil following the UK Government sanctions placed on now-former owner Roman Abramovich.
Per football.london on Thursday (9 June), the American billionaire held back £100m of the takeover fee for insurance against unforeseen liabilities relating to FFP.
Boehly’s first season in the throneroom at Stanford Bridge is also the first under Uefa’s new revenue-based FFP system.
Clubs are now limited to spending 90 per cent of their turnover on wages and transfer fees, with that quota reducing to 80 per cent in 2023-24 and finally 70 per cent in 2024-25.
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Maguire told Football Insider on Sunday (12 June) that Boehly’s top priority will be the long-heralded redevelopment of their 43,000-seater stadium.
And the spreadsheet expert explained that their comparatively modest matchday income will act as an anchor in terms of Uefa’s new spending rules.
“Chelsea are in an okay position,” he told Football Insider.
“The issue that will be the greatest challenge is that player wages are going to be linked to revenue. If you are starting £40m behind the competition because you make less matchday income, 70 per cent of £40m is £28m.
“So, that is a good 10 per cent of their wage bill. If other clubs can afford to spend 10 per cent more, that is a problem.
“However, they remain in an okay position because they have been very good at selling players. Since 2014, for example, they have generated more than £600m in player sales.
“That is on the basis of having a very good academy system. That has helped to bail them out but they can’t continue to rely on that because they are up against other teams that want to sign these talented individuals.”