Mykhailo Mudryk signed an eight-and-a-half-year deal to join Chelsea; He is latest young player to sign a significant long-term deal at Stamford Bridge | Why are Chelsea signing players to such long contracts? Are there any concerns about breaching Financial Fair Play rules?
Mykhailo Mudryk is the latest young player to commit his long-term future to Chelsea, signing an eight-and-a-half-year deal at Stamford Bridge – but why are the Blues offering players such long contracts?
Chelsea owner Todd Boehly has spent over £400m on transfer deals since taking control at Stamford Bridge and a key feature of those deals has been the length of the deals signed by the players joining the club.
Marc Cucurella, Carney Chukwuemeka, Cesare Casadei and David Datro Fofana committed for six years, Wesley Fofana seven years, Benoit Badiashile seven-and-a-half-years,
So, what’s the strategy? Why are Chelsea signing players to such long contracts? And are there any concerns about breaching Financial Fair Play rules?
Football finance expert Kieran Maguire spoke to Sky Sports News to explain…
How are Chelsea squaring this incredible outlay of money since Boehly took over?
What Chelsea have decided to do is to spread the cost of the players by signing them on very long contracts.
“So, by signing Mudryk on an eight-and-a-half-year contract, the way it is dealt with for accounting and FFP purposes is you take that £88m cost and you divide that over eight-and-a-half-years, and it works out as just over £10m-a-year.
Absolutely. It can work both ways for Chelsea.
“If the players really develop and are a huge success it gives the club protection for when other potential clubs come in and try to poach those players because they will still have many years left on their contracts.
“The downside is if the player doesn’t perform then you’ve got the complication of they are likely to be on very high wages and you are committed to those wages for the next six, seven or eight years.
“Therefore, if it works it is fantastic but if not, it is weighing the club down a bit like an anchor slowing things down.”