Premier League will bring their accounting rules to UEFA to change their Financial Fair Play rule
According to Daily Mail, Premier League is set to make changes in their Financial Fair Play rule to thwart Chelsea from exploiting their loopholes, as they will further bring accounting rules in line with those of UEFA from next summer.
This comes after the West Londoners broke another British transfer record when they signed Moises Caicedo from Brighton & Hove Albion for £115 million.
The 21-year-old signing will become Chelsea’s 22nd player acquisition in their books on a contract of more than five years at the club, as he agreed to sign an eight-year contract. This prevents them from breaking the crucial FFP regulations as the player’s salary is spread over a longer period.
However, UEFA has already altered their FFP rules and responded that the club can only sign the player on five-year contracts, but in the English top flight, there are no such limits. This gives the Blues an advantage as they are not in the UEFA Champions League.
With the purchase of the Ecuadorian midfielder, Todd Boehly’s west Londoners have already spent £800 million, potentially going over UEFA and Premier League expenditure caps.
This has raised concerns, and several clubs are set to hold shareholder meetings this season in the wake of Chelsea’s exorbitant spending which has concerned the rival clubs.
They can make all the changes they want, but we have owners that have the money and the desire to improve this club in the present and the future. It won’t stop us from making shrewd signings in the future.
Moreover, we have done the business for now. Michael Olise, Moises Caicedo and Romeo Lavia seem like the three potential signings that have made headlines this week and are set to arrive at Stamford Bridge.
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The Ecuador international already has, and the other two should follow suit. We have a squad of talented youngsters who are on long-term contracts. We have already used the loophole well and are set for the next decade if even half of our current players make themselves into quality Premier League footballers.