London, UK – Chelsea manager Enzo Maresca has voiced concerns that current financial sustainability rules are compelling clubs to sell their academy graduates, as Conor Gallagher looks set to join Atletico Madrid.
Gallagher, an England international, appears poised to join the exodus of Chelsea academy products, including Mason Mount, Lewis Hall, Ruben Loftus-Cheek, Ian Maatsen, and Callum Hudson-Odoi, who have been sold over the past two years. Additionally, Armando Broja and Trevoh Chalobah are expected to depart before the end of August.
Chelsea’s recent transfer activities have seen the club spend over £1 billion ($1.3 billion) in the last four transfer windows to overhaul the squad under the new ownership of LA Dodgers co-owner Todd Boehly and private equity firm Clearlake Capital. To balance the books and comply with financial regulations, the club has been selling players who came through its academy, as the entire transfer fee from these sales is recorded as profit.
Premier League clubs are restricted by profit and sustainability rules, which limit them to losses of £105 million ($134 million) over a three-year assessment period. These regulations have been blamed for the sluggish summer transfer window, with clubs like Everton and Nottingham Forest docked points last season for breaches. Newly-promoted Leicester City could also face penalties for violations during the 2022/23 season.
“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,” said Maresca, who joined Chelsea from Leicester City in June.
Maresca lamented the loss of long-term club loyalty exemplified by players like Francesco Totti, who spent 20 years with Roma. “It’s a shame because in Italy, we have 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.”
When asked if the rules should be changed, Maresca responded, “If they want to protect academy players, then probably yes.”
Gallagher, who captained Chelsea for much of last season due to Reece James’ injury issues, is reportedly headed to Atletico Madrid in a £33 million deal. Despite fan unrest over his potential departure, the 24-year-old had just one year left on his contract at Stamford Bridge and allegedly 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.”
The ongoing sale of academy talents underscores the challenges Premier League clubs face under current financial regulations, prompting calls for a review to better support the development and retention of homegrown players.
