In the future, the experiment that is happening inside the Chelsea With its new American investors, it will be an interesting case study in club management. soccer.
Why no one in England or other markets have also seen something similar to what has been happening at Stamford Bridge over the past two years.
Here are the numbers: Chelsea has spent nearly $1.3 billion on 39 players over five trade windows since May 2022 when the group led by Los Angeles Dodgers co-owner Todd Boehly and Clearlake Capital acquired the club from Russian oligarch Roman Abramovich for $3.2 billion.
The team has also had five different coaches in that period – plus another as interim – and there are constant changes within a club that has six domestic titles and two European titles.
“It’s not as much of a disaster as it looks on the outside,” Chelsea manager Enzo Maresca said on Wednesday, attempting to explain the wisdom behind having 43 players after signing two wingers — Pedro Neto and Joao Felix — for $130 million this week.
This is despite the fact that they already have five players at the position, including Mykhailo Mudryk, whom they signed last year for $100 million, and Raheem Sterling.
Sterling is one of around 20 players who have lost their place and are “training separately,” according to Maresca. These include Romelu Lukaku, signed three years ago for a club-record $135 million, and goalkeeper Kepa Arrizabalaga, who arrived as the most expensive goalkeeper at $92 million.
Nothing seems to make sense in this bold new era for Chelsea and it has been disappointing after finishing 12th two years ago and sixth last season.
“It’s been a mad rush to follow,” Dr. Dan Plumley, a sports finance expert at Sheffield Hallam University, told The Associated Press, “and it doesn’t seem like it’s going to stop.”
Plumley said the Chelsea owners’ initial “aggression” in the transfer market was not unexpected.
“You think, ‘This is the initial shot at getting control for a while,’” Plumley said in a telephone interview. “But it seems to keep going and it leads to a lot of questions about what the strategy is and what the owners want to do.”
With their private equity and venture capital backgrounds, Boehly and Clearlake approach football differently and have moved the goalposts in an attempt to deal with the constraints of financial fair play.
New players are often given seven- and nine-year contracts to cushion transfer costs. This led to UEFA and the Premier League adjusting the rules.
They have focused on selling academy players who actually generate pure profits on the annual books to allow the club to acquire high-profile players. This led to the departure of Connor Gallagher this week and youngsters Ian Maatsen, Lewis Hall and Omari Hutchinson.
According to their most recent financial statements, Chelsea’s owners have sold two hotels at Stamford Bridge to another company they own – a deal that has led to a Premier League investigation. They are also looking to sell shares in their successful women’s team.
Plumley said Chelsea’s strategy has the club “close to… or above” the limit of the Premier League’s profit and sustainability regulations.
“It was high risk at the start and it remains high risk at the moment,” Plumley acknowledged of the Chelsea owners’ approach.
