Since his take-over of Chelsea in May, Todd Boehly has proven that he’s not afraid to spend the big money. In the six months that he’s been at the club Boehly has spent up to £445 million just on new signings.
These signings include:
Raheem Sterling from Manchester City for £47.5 million.
Marc Cucurella from Brighton for £60 million.
Wesley Fofana from Leicester for £75 million.
Kalidou Koulibaly from Napoli for £33 million.
Carney Chukwuemeka from Aston Villa for £20 million.
Denis Zakaria on loan from Juventus.
Pierre-Emerick Aubameyang from Barcelona for £10.3 million.
Joao Felix from Atletico Madrid for a £9.7 million loan.
David Datro Fofano from Molde for £8 million.
Benoit Badiashile from Monaco for £35 million.
Andrey Santos from Vasco de Gama for £18 million
Mykhailo Mudryk for £88.5 million.
With the sheer number of signings and money spent, how are Chelsea dodging the Financial Fair Play - FFP rules?
The first thing to consider with FFP is how much teams are allowed to lose under FFP rules. The rules state that a club is allowed to lose £105 million over a rolling three-year period. In their most recent accounts (June 2021), Chelsea reported an operating loss of £387 million in three years, an egregious breach of FFP, a breach that was not recognised due to clubs being given allowances on losses due to the impacts of Covid-19.
Another aspect of Chelsea’s ability to avoid an FFP breach is the fact that Roman Abramovich did not charge interest on his loans to Chelsea and supposedly left the club completely debt free during the ownership transition.
Along with this, the success of the club has also aided their financial standing. For example, winning the Champions League in 2021 meant that Chelsea earnt £106 million in prize money alone.
However, there are no longer any Covid-19 circumstances, so how are Chelsea avoiding an FFP breach?