Uefa has officially closed the amortisation loophole that Chelsea owner Todd Boehly exploited to spend vast sums on transfers while remaining within the limits of financial regulations 🔴 samcunningham reports via iPaperSport
exploited to spend vast sums on transfers while remaining within the limits of financial regulations., enabling the club to spread the cost of the transfer over the length of the contract, as previously permitted in Uefa’s rules.could therefore be split over his eight-and-a-half year contract meaning only £10.35m had to be registered as expenditure in the club’s accounts each year.
Uefa, however, has moved to stop the practise in order to “improve financial sustainability” in the game. On Wednesday the governing body’s decision-making Executive Committee met at the House of European Football in Nyon, Switzerland, and agreed to amend the existing amortisation accounting regulations.
“It’s a substantial investment in their potential but also the club’s ability to maximise that potential.
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