The English Football League decided to limit the duration of player contracts to a maximum of five years, as announced on Tuesday, with the aim of complying with the European Union (UEFA) regulations for the game.
The reform, which was adopted on Tuesday, aims to limit a widespread practice among certain clubs, starting with Chelsea, which was known for concluding long-term contracts for accounting reasons, so that transfer fees can be distributed over the duration of the contract. In other words, the longer the contract, the lower the annual payments recorded in the club’s accounts.
Under the new reform, a transfer allowance of 100 million euros is distributed over five years, making it 20 million per year, compared to 12.5 million euros if the contract was for eight years.
On Tuesday, the Premier League decided to “amend the rule for absorbing player registration costs to bring it in line with UEFA regulations. In the future, a maximum period of five years will apply to all new contracts for players or their extension,” according to the statement.
Chelsea’s American owners distinguished themselves from many of their counterparts by signing long-term contracts during the last two transfer periods, such as the signing of Argentine Enso Fernandes and Ukrainian Mykhailo Modric on an eight-and-a-half-year contract, or Frenchman Benoit Badyachel with a seven-and-a-half-year contract.
The London club repeated the same thing last summer by bringing in Frenchmen Axel Dezazi and Christopher Nkunku on six-year contracts, which has now become impossible.
2023-12-12 18:11:51
#Chelsea…the #English #Premier #League #adopts #important #change #player #contracts
