Emphasizing the need for a revision of financial sustainability regulations, Chelsea manager Enzo Maresca expressed concerns over the trend of clubs profiting from the sale of academy graduates. This comes as Conor Gallagher appears poised to make a move to Atletico Madrid.
Joining the likes of Mason Mount, Lewis Hall, Ruben Loftus-Cheek, Ian Maatsen, and Callum Hudson-Odoi, Gallagher is part of a list of players developed through Chelsea’s youth system who have been transferred in the past two years. Additionally, the potential departures of Armando Broja and Trevoh Chalobah are also on the horizon before the end of August.
Chelsea finds itself in the position of needing to recoup funds following significant expenditures exceeding £1 billion ($1.3 billion) in the past four transfer windows aimed at reshaping the squad under new ownership spearheaded by Todd Boehly of LA Dodgers and private equity firm Clearlake Capital.
The practice of selling academy graduates is seen as a strategic financial move for clubs looking to comply with regulations, as the full transfer fee received is treated as profit in their financial records.
Current profit and sustainability regulations impose a restriction on Premier League clubs, limiting their losses to £105 million ($134 million) over a three-year assessment period. This regulation has been attributed to the sluggish pace of this summer’s transfer window thus far.
Previous instances include point deductions for Everton and Nottingham Forest for breaches in regulations last season, with potential repercussions for newly-promoted Leicester this season due to violations in the 2022/23 campaign.
Maresca, who arrived at Chelsea from Leicester in June, remarked on the situation, saying, “This is not Chelsea’s problem, these are the rules. All clubs are currently compelled to sell academy players due to these regulations. It’s a challenge faced by all Premier League clubs.”
Highlighting the contrast with traditions in other leagues, Maresca added, “It’s a shame because in Italy, we have legends like (Francesco) Totti at Roma, loyal to one club for 20 years – a concept that resonates with fans. However, the current rules have altered this landscape.”
When asked about the necessity for rule modifications, Maresca responded, “If the aim is to safeguard academy players, then perhaps adjustments are needed.”
As Gallagher prepares to make his move to Atletico following a stint as Chelsea’s captain last season due to Reece James’ injuries, speculation surrounds his departure despite protests from fans. The 24-year-old’s transfer to Atletico is reportedly set at £33 million.
Gallagher, with only a year left on his contract at Stamford Bridge, purportedly turned down a two-year extension offer from Chelsea.
Maresca reflected on these decisions, stating, “At present, negotiations are ongoing between the club and the player regarding their future – whether to stay or leave. Such deliberations are commonplace in every club during the summer, with the outcome hopefully beneficial for all parties involved.”
AFP