English soccer powerhouse, Chelsea, are flooding headlines with their big cash splash this summer of more than One Billion pounds, but even with the gargantuan spending spree, the team still cannot find a streak of good form!
In the spring of 2022, an American billionaire bought Chelsea for a humongous fee of $5.25 billion. With such a huge fee to pay for ownership, Todd Boehly had to make his mark immediately with the British club.
Following the Russian invasions of Ukraine, Chelsea’s Russian owner, Roman Abromovich, put the club up for sale. On May 28, 2023, American Todd Boehly acquired Chelsea for a whopping $4.25 Billion!
After a lackluster 21/22 season that ran with high expectations for Chelsea after they reached European greatness, winning the UEFA Champions League, Boehly knew he had to put some cash into a player revamp to get Chelsea running again.
Moving into the 2022 summer transfer window, Boehly wasted no time splashing the cash on Raheem Sterling for $57m, Wesley Fofana for $80.5m, and Marc Cucuerlla for $65m. With $202.5 million spent on three players alone, what does this mean for Chelsea, and what does this mean for the football Economy?
Heading into the 22/23 season, Boehly and Chelsea held the front and back page headlines of the premier league, with huge expectations due to their outrageous spending. Unfortunately for Chelsea and their supporters, they did not come anywhere near their expectations, placing 12th out of 20 and not winning a single trophy!
Chelsea’s spending habits didn't slow down in the 23’ summer either. Boehly went all in and spent a record breaking one billion. Spending money like this is absolutely unheard of, and the effects of Boehly’s spending can change football forever.
Boehly’s spending for Chelsea can cause great issues for the future of soccer, because if one team can spend billions of dollars like it's nothing, all teams will be expected to spend money like that to acquire their players.
