Deadline day has finally arrived in the Premier League, with clubs across the division scrambling to get deals over the line before the transfer shuts later tonight.
This date in the calendar is often an underwhelming one, with the transfers that go through rarely living up to the hype that builds ahead of this day each season. Of course, for those teams who pull off one or two panic deals, there is often a tinge of regret over the months that follow.
It can be difficult to get deals right on deadline day, but one club that seem intent on making the most of the occasion is Chelsea.
Their approach in the transfer market over the last couple of years has been unorthodox to say the least, with the London side splashing vast amounts of cash on huge quantities of players, most of whom are no longer in the first team picture at Stamford Bridge.
Despite the amount of footballers currently on their books, they are still pursuing the likes of Jadon Sancho and Victor Osimhen ahead of tonight's deadline.
In saying that, it is a potential Chelsea sale that has garnered the most attention on deadline day.
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Chelsea deadline day deal sums up the sad state of modern football
Chelsea have employed the strategy of signing talented South American youngsters over the last couple of seasons, although few of them have made a first team breakthrough at the club just yet.
One such example is Deivid Washington.
The 19-year arrived at Stamford Bridge from Santos for a fee of €16million in 2023, although his playing time would be severely limited. He would make just three substitute appearances across all competitions, featuring for a grand total of 25 minutes.
It seems as though his time at Chelsea is now coming to an end, with the Brazilian set to leave the club on deadline day. However, the details of his transfer seem sketchy at best.
Washington is set to join Ligue 1 side Strasbourg for €21million, a fee that seems remarkably high when you consider his impact since moving to England.
🚨 Strasbourg should finalise the signing of Chelsea forward Deivid Washington today. €21M fee! 💰
(Source: @lequipe) #DeadlineDay pic.twitter.com/r7S6kKAzTW— Transfer News Live (@DeadlineDayLive) August 30, 2024
The deal makes a lot more sense when you realise that Strasbourg are owned by BlueCo, the Todd Boehly run entity that also happen to own Chelsea. We're sure that is just a coincidence.
Chelsea are in serious danger of breaking both Premier League and UEFA financial rules on the back of their heavy spending in recent times, meaning they will need to balance the books with some sales. Making a profit on players such as Washington, especially when you take into consideration the amortisation process.
Amortisation is a financial practice that allows club to spread the cost of players out across the full length of their contracts on the club's books. For example, Chelsea would have spread the €16million paid for Washington across five years.
However, sales are counted as a lump sum. This essentially means that they have banked a profit of around €18million on Washington on their books for this financial year.
Of course, this deal simply seems like a bookkeeping exercise, with Chelsea's owners moving money around in order to give the appearance of robust financial health.
"Are you interested in signing Deivid Washington for €21million?"
"Yes I am." https://t.co/yqJzxSgTHr pic.twitter.com/5E4TYYvYrb— Colin Millar (@Millar_Colin) August 30, 2024
Multi-club ownership is one of the biggest problems facing the modern game. Not only does it potentially belittle the standing of historic football clubs throughout the globe, but it also allows wealthy owners to carry out some pretty questionable financial practices.
The City Group, who own Manchester City as well as a number of other clubs around the world, are the model that many owners are now looking to follow.
Manchester City themselves benefitted from such a transfer deal earlier in this window, signing Savinho from sister club Troyes for a surprisingly low transfer fee. In fact, Savinho never even featured for Troyes despite being their record signing, having spent last season loan at Girona, another club in the City Football Group.
Liverpool are another club who look set to go down this route, with their owners FSG bringing back former sporting director Michael Edwards in order to oversee their multi-club model.
UEFA had previously been steadfast in their opposition to the multi-club ownership model, with such ownership groups allowed to have no more than one club in a given European competition.
However, that stance has softened significantly in recent times. The Red Bull controlled RB Leipzig and Salzburg have featured in the Champions League together on numerous occasions, while Manchester City and Girona are set to do so this season.
Multi-club ownership is something that very few football fans are in favour of, with this latest Chelsea deal an example of where it can impact the game.
In saying that, it looks unlikely that it will go away anytime soon.
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