‘Todd Boehly never learns’ – Keith Wyness savages Chelsea after new twist
Everton’s former chief Keith Wyness has insisted the £175million share issue at Chelsea will relate to concerns about Profit and Sustainability Rules (PSR).
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – claimed Blues owner and chairman Todd Boehly is “very quickly becoming a case study in what not to do” when buying a football club.
Football Insider revealed on 31 July that Chelsea have received a £175million injection from their owners in the form of a new share issue.
The transaction can be backdated to 29 June, meaning Chelsea received the financial boost one day before the 30 June accounting deadline.
Chelsea were believed to be close to breaching the Profit and Sustainability Rules (PSR) for the 2023-24 season but made last-ditch player sales before submitting their accounts.
The Blues posted a loss of £90million in the 2022-23 financial year alone, with current rules stating top-flight sides can lose a maximum of £105million over a rolling three-year period.
Chelsea chairman Boehly ‘never learns’ as £175m payout uncovered
Wyness accused Boehly of “throwing money” at his problems and “never learning” from his mistakes.
He told Football Insider‘s Insider Track podcast: “I think this is all about the PSR requirements.
“As I understand it, the women’s team transaction is still being analysed by the Premier League.
“Chelsea, once again, have got themselves in a problem – and they’re throwing money at it again.
“The shares are about trying to get cash into the club, reducing interest payments on any debt – and making the PSR issues go away.
“But they’re selling Conor Gallagher to Atletico Madrid this week, it just seems like Todd Boehly and his group never learn from their mistakes.
“It’s just one after another.
“Chelsea are very quickly becoming a case study in what not to do when you buy a club.
“Luckily they’ve got very deep pockets, but Boehly is finding that football is not quite as easy as his other experiences.”
In other news, Chelsea to complete A-list striker signing after deal agreed.
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