Todd Boehly has shed light on the strategy behind almost exclusively dishing out long-term deals at Chelsea, with many of their players contracted to Stamford Bridge until at least 2030. And the co-owner’s comments suggest a tricky decision will soon be made regarding the futures of Conor Gallagher, Raheem Sterling and Ben Chilwell......See Full Story>>.....See Full Story>>
Offering contracts of seven years or more has become par for the course under Boehly’s guidance. As a result, the Blues’ squad list is unlike any other, with Moises Caicedo, Mykhaylo Mudryk and Nicolas Jackson not needing to worry about free agency until 2031, and Enzo Fernandez contractually tied up until 2032.
However, Boehly has suggested that the final two years of each player’s deal can effectively be discounted. The American billionaire claims that, at that point, a decision would have to be taken on whether to cash in or extend the partnership.
Speaking at the Qatar Economic Forum, he said: “The reality is, in European football, a seven-year contract is really a five-year contract because you are never going to let a contract expire to the last year. You’re either going to extend the contract or see what’s best for the player and the club.”
Gallagher, who is approaching the final year of his Chelsea contract, would have suspected tough conversations on the horizon. Boehly’s latest remarks mean they are an absolute certainty, leaving the boyhood Blues fan with a nervous wait to discover his fate.
Tottenham have been heavily linked with the 24-year-old who, if sold, could be accounted for as pure profit in Chelsea’s books. But manager Mauricio Pochettino has already made it clear that he wants to keep Gallagher in his starting XI.
Sterling and Chilwell still have at least some time on their side, with contracts expiring in June 2027. However, Boehly pointing out that a deal effectively ends two years before expiry leaves the duo with just over 12 months to secure their futures.
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Sterling has been forced to settle for cameos off the bench since mid-March, while Chilwell has only managed nine Premier League starts this campaign due to persistent injury problems. Both players, therefore, face pressure to demonstrate improvements in 2024/25.
Chelsea have spent an unprecedented amount on transfers since Boehly and Clearlake Capital took control of the club in 2022. Although most fans have been left disappointed by their recent success rate in the transfer market, Boehly insists that everything is going to plan.
“When we are spending, we are investing and those players continue to hold their value,” he added. “So what we are thinking of is, ‘What does it cost to finance that portfolio of players?’. Some will go up and some will go down in value, but I argue the investments made at Chelsea have held their value. We are not spending the money, we are investing the money. So when we buy, we are just thinking about the cost of carry.”