Chelsea manager Enzo Maresca has stated that changes to financial sustainability rules are necessary to discourage clubs from selling academy graduates, as Conor Gallagher nears a move to Atletico Madrid.
Gallagher, an England international, would join a growing list of Chelsea youth products sold in recent years, including Mason Mount, Lewis Hall, Ruben Loftus-Cheek, Ian Maatsen, and Callum Hudson-Odoi. Additionally, Armando Broja and Trevoh Chalobah are expected to leave before the end of August.
The club has been compelled to recoup funds after spending over £1 billion ($1.3 billion) in the past four transfer windows to overhaul the squad under new ownership, which includes LA Dodgers co-owner Todd Boehly and private equity firm Clearlake Capital.
Selling academy players is particularly beneficial for clubs in meeting financial regulations, as the full transfer fee is recognized as profit in their financial statements. The profit and sustainability rules limit Premier League clubs to losses of £105 million ($134 million) over a three-year assessment period, contributing to a sluggish summer transfer window.
Last season, Everton and Nottingham Forest were penalized with point deductions for violating these regulations, while newly-promoted Leicester could also face penalties this season due to breaches in the 2022/23 campaign.
Maresca commented, “This is not Chelsea’s problem, these are the rules. All the clubs at this moment are compelled to sell players from the academy because of the rules. It’s all of the Premier League clubs’ problems.”
He lamented the changes in football culture, comparing it to Italy, where legends like Francesco Totti remained loyal to their clubs for decades. Maresca stated, “It’s a shame because in Italy, we have (Francesco) Totti with Roma, 20 years with the same club – one club man. We love that in football; the fans want to see that. But with the rules now, it is different from the past.”
On the necessity of altering the rules, he remarked, “If they want to protect academy players, then probably yes.”
Gallagher served as Chelsea’s captain for a significant portion of the last season due to Reece James’ injuries. Despite some fan unrest regarding his potential exit, the 24-year-old seems set to join Atletico Madrid for a fee of £33 million. Gallagher had one year remaining on his contract at Stamford Bridge and reportedly turned down a two-year extension offer.
“In this moment, there is something between the club and the player – an agreement to stay or to leave,” Maresca explained. “These kinds of things happen in every club, every summer and in the end the final decision will be good for everyone. Hopefully, the final decision will be good for Conor and the club.”
