28 June 2023 , 15:25
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UEFA’s executive committee have voted in favour of a transfer market reform that will block clubs such as Chelsea from spending huge amounts of money on fees that are repaid across spells of more than five year.
The governing body have made the move after the West London club were able to spend more than £600m across the previous two windows because they had signed players to deals of seven or eight years, allowing them to spread amortisation payments more thinly.
But from this summer on clubs will need to pay the fees within five years of a deal being struck - although players can continue to sign longer contracts - as UEFA look to close what has been framed as a financial fair play loophole.
In a statement UEFA described the change as “important amendment” and explained: “The amortisation of the player’s registration will be limited to five years in order to ensure equal treatment of all clubs and improve financial sustainability.
Mykhaylo Mudryk was one of several players signed to Chelsea on long-term deals, forcing UEFA to act. (AFP via Getty Images)“In case of contract extension, the amortisation can be spread over the extended contract period but up to a maximum of five years from the date of the extension. Such a change will not restrict the way in which clubs operate (i.e. clubs that are allowed by their national governing bodies to conclude player contracts for a period exceeding five years can continue to do so) and will not apply retroactively to transfer operations that have already taken place.”
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Since the 2022 summer window Chelsea have signed ten different players to contracts lasting six or more years, including centre half Wesley Fofana for seven, defenders Benoit Badiashile and Malo Gusto plus winger Noni Madueke for seven and a half; and Enzo Fernandez and Mykhaylo Mudrik for eight and a half.
Earlier this month it was announced that French forward Christopher Nkunku was joining from RB Leipzig on a six-year contract and for a fee of £52m.
Christopher Nkunku has joined Chelsea from RB Leipzig. (Boris Streubel/Getty Images)But instead of Chelsea paying the German side £8.6m a year until 2028 they will instead cough up £10.4m until 2027.
UEFA has also clarified that clubs must assess whether a player is moving in a swap deal to dissuade “that transfer operations take place with the sole intent to artificially inflate transfer profits rather than for sporting purposes,” while European football chiefs added that “it is now required that clubs’ auditors confirm the correct application of the described accounting requirements and report any discrepancy should this not be the case.”
Meanwhile, the executive committee said that the title of its newest club competition, won by West Ham United last month, will lose its Europa affixation and be shortened to UEFA Conference League from next season.