Since Boehly came in they have a net spend of around -740M€, which is absolutely absurd. So I'd love to hear the reasoning as to how that was allowed.
All I'm going to say is thank god that they spent all that money so poorly. It would be absolutely hilarious if they got charged too. But they are probably walking a fine line and can't keep up this spending. Will be interesting to see how they manage their future windows.
A ton of their early spending was amortized over 7-8 years so for FFP reasons so spending 600m in the first year only counts as 70-80M/year spending. They likely sold Werner at a slight FFP loss, but Palmieri, Jorginho and Gilmour are ~35M of pure FFP profit. So last year that's a net FFP spend of something in the range of 40-50M which seems reasonable for a club like Chelsea to support.
This year they spent ~470 over 5 year amortization, so ~94M/year. Up to maybe 175M/year in amortization that they have to account for including both years.
They sold Havertz for nearly what they paid for him and he had probably 40% of his deal left so that's ~45M FFP profit. Mount was 65M pure FFP profit, Kovacic was likely ~20-25M FFP profit, Pulisic 20M FFP profit, Mendy ~10-15M profit, RLC 18M profit, Ampado 8M profit. So that's ~185-195M FFP "profit" from the sales that gets booked right away.
So from the FFP standpoint their net spend on transfers since the ownership change is only 30-40M which is totally reasonable. The bigger issue for them is moving forwarding since they'll be dragging that 175M anchor forward for the next several years. Missing out on CL football hurts a lot for that. It's also why there's so much talk about selling a guy like Gallagher, despite it being insane to sell a talent like him, because that's 50-60M of pure FFP profit.
