NEW CHELSESA OWNER AND HOW HE'S GOING ABOUT WITH SIGNINGS

June 17, 2022
3 years ago

Due to the strengthening of UEFA's financial fair play requirements, new Chelsea owner Todd Boehly has warned that clubs will no longer be able to sign players "for any price."

 

After the UK Government received assurances that former Blues owner Roman Abramovich would not profit financially, Boehly led the consortium that bought the Premier League club in May.

 

After being sanctioned as a result of Russia's invasion of Ukraine, Abramovich put the club up for sale, with Boehly and Clearlake Capital's purchase bringing an end to Abramovich's 19-year tenure at Chelsea.

 

Chelsea won 21 major trophies during the Abramovich era, including five Premier League wins and two Champions League titles.

 

 

 

That success was fueled by a large investment from a Russian tycoon, but Boehly does not expect Chelsea to spend similarly as they prepare for a new era under the American.

 

He expressed himself as follows: "Financial fairness is beginning to take hold, which will limit the capacity to acquire players at any cost.

 

"It is taken seriously by UEFA, and it will be taken seriously in the future. [More teeth] entails monetary penalties as well as exclusion from sporting events."

 

 

 

Earlier this week, LaLiga, like Manchester City in April, filed another UEFA complaint against Paris Saint-Germain for FFP violations.

 

 

 

PSG has been brought to court over their actions, and LaLiga president Javier Tebas has stated his displeasure with the exaggerated expenditure levels.

 

 

 

That may be why, as he seeks to bring American-style thinking to English football, Boehly is looking at alternative cash streams to help promote the cause at Stamford Bridge.

 

Added Boehly: "We believe that this sport's worldwide influence is really limited. Fans of European football number in the billions. NFL has a fan base of 170 million.

 

"We'll also be considering how we might increase revenue for the players, given that global club football is a fraction of the NFL's media budget.

 

"Consider [NBA's] LeBron James, who has a business and a crew dedicated to what happens off the field.

 

"I believe there is a potential to bring some of that American mindset into English sports and grow it."