Chelsea is enduring one of its worst seasons in recent memory, with further troubles looming for the fans. Since the American acquisition, the club has witnessed a decline marked by managerial changes, declining performances, and unsatisfactory results, all at a staggering financial cost.
Co-owner Todd Boehly approved a massive spending spree upon his arrival, resulting in over a billion euros being spent on numerous players. Now, the consequences of this spending are beginning to manifest, requiring the club to take drastic action to mitigate the situation.
Chelsea looking to sell Reece James, Conor Gallagher
Chelsea is prepared to part ways with two of its most talented players, captain Reece James and midfielder Conor Gallagher. Both players have risen through the ranks of the academy and have spent their entire careers at the club.
This decision aims to maximize the club’s profit margins, given that both players are considered ‘homegrown talents’. Since the takeover by an American consortium in 2022, the club has witnessed record sums of money being spent on players, managers, and other staff.
Consequently, they have incurred significant losses over the past two years, putting them at risk of breaching the Premier League’s Profitability and Sustainability Rules. The English league has already shown to be quite strict in these matters, already punishing both Everton and Nottingham Forest recently.
🚨 Chelsea are planning to sell Reece James and Conor Gallagher this summer.
— Transfer News Live (@DeadlineDayLive) March 31, 2024
The club wants to generate well over £100M in additional revenue to avoid breaching the Premier League’s financial rules.
(Source: @DuncanCastles) pic.twitter.com/iz728P0h2S
To prevent a loss in the current 2023-24 fiscal season, the Blues aim to generate over ÂŁ100 million in additional profits to avoid exceeding the maximum allowable loss of ÂŁ105 million set by the league per season. Consequently, they have earmarked both Reece James and Conor Gallagher for potential transfers, with the former having previously attracted interest from Real Madrid. The club intends to seek suitable buyers for both players preferably before June 30, which marks the end of the fiscal season.
Chelsea duo’s underwhelming performance this season
Reece James and Conor Gallagher are also being sold for their underwhelming performances so far this season. While James is their captain and probably one of the best right backs in the Premier League, he has missed a lot of games now due to injury.
James has only played 9 games so far this season, and is currently out through a hamstring issue that has plagued him for the last two seasons. With interest from Real Madrid and other clubs, it will be easy to sell him for a lot of money. A fee of around ÂŁ80 million can be expected for the English fullback.
Conor Gallagher has not been at his best this season, but he still has good numbers with 4 goals and 7 assists. While he is very important to the team, there is another issue regarding his contract which ends in 2025. While there have been talks to extend it, Chelsea are reluctant to comply with his higher wage demands and have told him to lower those or be sold this summer.
Tottenham are said to be interested in the English player, and they believe they can raise over ÂŁ50 million for him. His situation is drawing parallels to Mason Mount, who also had to go to Manchester United after the club refused to significantly increase his wages.
Chelsea have a lot of work to do in the summer, but for now will focus on their next game against Manchester United on Friday.
