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Conor Gallagher is Chelsea's academy graduate
Enzo Maresca, Chelsea’s head coach, has provided insight into the club’s controversial decision to sell Conor Gallagher to Atletico Madrid for £33 million.
With Gallagher’s imminent move to Spain, Maresca has shed light on the Premier League’s financial regulations that are influencing Chelsea’s decision-making process.
According to The Standard UK Chelsea’s sale of Gallagher, a product of their own academy, has been scrutinized by fans.
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The reason behind this strategy, according to Maresca, is rooted in the Premier League’s profit and sustainability (PSR) rules.
Since the new ownership took over in 2021, Chelsea has invested over £1 billion in new signings.
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While this spending spree has bolstered the squad, it has also placed significant pressure on the club’s financials.
The Premier League’s PSR regulations require clubs to demonstrate that they are not running excessive losses over a three-year period. In light of these requirements, Chelsea has had to find ways to balance their books.
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Maresca explains that the sale of academy players like Gallagher counts as 'pure profit' in the club’s financial statements.
This accounting treatment makes these players particularly attractive assets to sell, as their transfer fees provide a straightforward way to improve financial health without impacting the club’s bottom line negatively. “Selling academy players is a matter of necessity under the current rules,” Maresca stated.
“These regulations compel all Premier League clubs to balance their books, and that includes cashing in on players developed through their own systems.”
The decision to sell academy graduates, while financially sound, has sparked concern among supporters and experts who value the development and retention of home-grown talent.
Maresca acknowledges these concerns and expresses a desire for the regulations to evolve. “The intention of the club is not to sell academy players,” he said. “If we want to protect young players and keep them at their clubs longer, then perhaps the rules need to change.”
Maresca draws a comparison with Italian football, citing Francesco Totti’s long-term commitment to AS Roma as an example of what football fans cherish. “We love seeing players who spend their entire careers at one club,” Maresca reflected. “In Italy, we have such examples, and it’s something fans want to see more of. Unfortunately, the current rules make it challenging to retain academy players in the Premier League.”
Could this be the reason why Mount was sold to United after spending his entire development years as a Chelsea man?
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