29 June 2023 , 17:24
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The official end to the summer transfer window doesn’t come until September 1, but for some clubs there is another date circled with red pen in their calendars.
June 30 is an important date for football clubs. The football financial year runs from July 1 to June 30, with player contracts also expiring when June turns to July. But there is another reason why June 30 is an important date.
Friday is the last opportunity for some teams to sell off unwanted players in order to bolster their financial accounts for the 2022/23 season. Financial fair play compliance is a serious consideration for some who have overspent over the past year.
Premier League clubs are only permitted to lose a maximum of £105million over a three-year period. Meanwhile, European governing body UEFA allows a loss of €60m (£51m) over three years, although that can be increased by up to €10m (£8.6m) a year for clubs who are deemed to be “showing good financial health”.
Chelsea are the best example of a club who have been very determined to sell off players in the opening few weeks of the summer transfer window. After splashing out on transfers during the first year of Todd Boehly and Behdad Eghbali ownership, they have been forced to try and find some balance.
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The Blues spent around £440m on transfers in the last two windows, with Enzo Fernandez’s record-breaking £107m arrival from Benfica in January the most eye-catching. Since the summer window opened on June 14, Chelsea have been working on arrivals, but mainly concentrating on departures first.
Just a year after arriving, Kalidou Koulibaly was sold for £20m to Saudi Pro League club Al Hilal. Mateo Kovacic joined Manchester City in a deal worth an initial £25m. Edouard Mendy was sold to Al Ahli for around £16m. Kai Havertz was sold to Arsenal for £65m – and there are more to come, too.
Mateo Kovacic left Chelsea in a £25m deal (Manchester City FC via Getty Images)Chelsea have now agreed a fee of £55m, rising to £60m with Manchester United for Mason Mount. Meanwhile, Ruben Loftus-Cheek will leave for AC Milan for around £15m and Hakim Ziyech is expected to head to Al Nassr for around £8m.
Whether these deals get completed in time to be included in the 2022/23 books remains to be seen, but Chelsea’s plan is clear. They have already banked around £120m, with a further £83m on its way.
Christopher Nkunku joined Chelsea (Chelsea FC via Getty Images)Tellingly their one arrival so far, Christopher Nkunku, will not formally begin his six-year deal until July 1. His £52m transfer from RB Leipzig went through last week, but will feature in the club’s 2023/24 accounts.
The emergence of the Saudi Pro League as a possible route for unwanted players on considerable wages has helped things. And many clubs like to get business done as early as possible so that players can be included in pre-season training, but financial considerations are important too.
There will be another 63 days left of the transfer window once June has expired, but for club’s like Chelsea time is of the essence.