The FT is a paper of corporate capital and it doesn’t have a sports section. It does however write on sport quite a bit in respect of matters of finance. A few days ago it was examining Spurs (I’ll post further on that) and its now had a look at Chelsea.
Chelsea are owned by Clearlake and Tod Boehly and this week sacked their fifth manager of their ownership. Liam Rosenior had lasted three months and lost the last five matches. If Chelsea don’t get a Champions League place it will cost the club £75-80m. Considering the fact that the club lost £262m in 2024/5, its biggest ever loss, it can be see what the financial forces at work are.
The FT reports that the club treat players as ‘stocks in a portfolio’ with unusual seven year contracts spreading the cost but also looking at re-sale values.
Apparently Chelsea are currently profitable after winning the Club World Cup but whether any of this is doing football or football fans any favours seems highly questionable. At best.
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