HomeTRANSFERSChelsea Acquires Majority Stake in Football Club Amidst Player Sales to Saudi...

Chelsea Acquires Majority Stake in Football Club Amidst Player Sales to Saudi Arabia

-

Chelsea Acquires Majority Stake in Football Club Amidst Player Sales to Saudi Arabia

Chelsea have reportedly spent £65 million on a stake in a mid-table French club as they attempt to transfer players to Saudi Arabia and others.

Chelsea reportedly paid £65 million for a controlling stake in a French club as part of their Saudi selling frenzy.

N’Golo Kante has joined Al-Ittihad after his Chelsea contract expired, and he will be followed to the Middle East by numerous of his now-former teammates. Other players connected with moves to Saudi teams include Kalidou Koulibaly, Edouard Mendy, Romelu Lukaku, Hakim Ziyech, and Pierre-Emerick Aubameyang.

The Blues are attempting to balance the finances after spending more than £600 million since American billionaire Todd Boehly completed his ownership in May last year. They spent out £52 million on RB Leipzig striker Christopher Nkunku earlier this week.

Sales of Timo Werner and Jorginho have only partially offset that outlay, and with the club reporting a loss of £121 million for the 2021/22 season, Financial Fair Play (FFP) rules dictating that teams may only make losses of £105 million over three seasons are an issue.

As a result, more sales, notably Kai Havertz to Arsenal, are expected this summer. However, that hasn’t stopped the Blues from investing tens of millions in French club Strasbourg.

According to The Guardian, BlueCo, the group that bought Chelsea last year, will own nearly 100% of the club, who finished 15th in Ligue 1 last season. The collaboration will see young players loaned to Strasbourg. Marc Keller, the long-serving president, will stay in place alongside the current management team.

“We’ve built a club that is healthy and well-managed at every level.” “While there was no financial pressure, we were aware that we had reached the limit of our model,” Keller said in a statement.

“If we wanted to continue driving Racing forward and projecting it into a new dimension, we necessarily needed to be accompanied by a solid structure capable of supporting our development and our ambition.”

BlueCo plans to make an active contribution to the development of the model implemented by Marc Keller,” Keller added.

“First, financially, by providing capital that will enable investment in the men’s and women’s first teams, the academy and across the club.”

Chelsea Acquires Majority Stake in Football Club Amidst Player Sales to Saudi Arabia

Follow us

6,566FansLike
5,662FollowersFollow
584FollowersFollow

Most Popular