Chelsea manager Enzo Maresca has called for changes to financial sustainability rules to discourage clubs from selling their academy graduates, as Conor Gallagher looks poised to join Atletico Madrid.
Gallagher’s potential departure would see him follow in the footsteps of fellow Chelsea youth products Mason Mount, Lewis Hall, Ruben Loftus-Cheek, Ian Maatsen, and Callum Hudson-Odoi, all of whom have been sold over the past two years. Additionally, Armando Broja and Trevoh Chalobah are also expected to leave before the end of August.
Chelsea has found itself needing to recoup funds after spending over £1 billion ($1.3 billion) in the last four transfer windows to overhaul the squad under new ownership, led by LA Dodgers co-owner Todd Boehly and private equity firm Clearlake Capital.
The sale of homegrown talent is particularly advantageous for compliance with financial regulations, as the entire transfer fee is recorded as profit in the club’s financial books.
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The Premier League’s profit and sustainability rules, which limit clubs to losses of £105 million ($134 million) over a three-year period, have been cited as a reason for a relatively slow summer transfer window.
Last season, Everton and Nottingham Forest faced points deductions for violating these regulations, and newly-promoted Leicester City could face similar sanctions for breaches in the 2022/23 campaign.
“This is not just Chelsea’s problem; these are the rules. All Premier League clubs are compelled to sell players from the academy because of these regulations. It’s an issue for the entire league,” said Maresca, who joined Chelsea from Leicester City in June.
“It’s a shame because in Italy, we have players like Francesco Totti with Roma, who spent 20 years with the same club – a one-club man. We love that in football; the fans want to see that. But the current rules make it difficult.”
When asked whether the rules need to be revised, Maresca responded, “If the intention is to protect academy players, then probably yes.”
Gallagher, who served as Chelsea’s captain for much of the previous season due to Reece James’ injury issues, seems set for a move to Spain.
Despite fan unrest over his potential departure, the 24-year-old appears headed to Atletico Madrid in a £33 million deal. Gallagher, who had just one year left on his contract at Stamford Bridge, reportedly rejected a two-year extension offer.
“In this moment, there is an ongoing discussion between the club and the player regarding an agreement to stay or leave,” said Maresca.
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“These situations arise at every club, every summer, and ultimately, the final decision will be made in the best interests of all parties. Hopefully, the final decision will be beneficial for both Conor and the club.”
The potential transfer underscores the challenges Premier League clubs face in balancing financial regulations with the development and retention of homegrown talent. As Chelsea continues to navigate these waters, the broader implications for the Premier League and its clubs remain a topic of significant discussion and concern.