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“Boehly loophole” closed by Premier League

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Picture Credits: CFCDaily

As preparation begins for the January transfer window, the Premier League today held a stakeholders meeting to discuss the forthcoming plans as sides get ready to head to the market in just over 2 weeks from now.

On the agenda was in regard to capping amortisation to 5 years rather than 7/8 years which Boehly/Clearlake have been exploiting in the last year.

Chelsea’s transfer strategy has stunned Europe in recent months to where drastic action has taken place to block this latest loophole, this time it was the Premier League’s turn to act.

The Premier League announced this afternoon in a statement; “Premier League Shareholders today agreed to amend the rule on amortisation of player registration costs to bring it in line with UEFA’s regulations. Going forward, a five-year maximum will apply to all new or extended player contracts.”

The latest action will likely limit the mass spending which has taken place at Stamford Bridge over the past 12 months. For example if Chelsea signed Enzo Fernandez for £106m this January, it would cost the club £21.2m on the books per year but under Boehly/Clearlake’s strategy last season, Fernandez costs the club £13.2m a year on the books.

There was a twist in the vote as according to The Athletic, Chelsea were actually 1 of the 15 clubs to vote for this rule to come in. The reasons aren’t exactly clear as yet but it seems like Chelsea have done what they wanted but don’t want the rest to follow.

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