sport news UEFA to close loophole in wake of Chelsea's record spending after complaints ... trends now

UEFA to close loophole in wake of Chelsea's record £460m splurge on new signings after complaints from Premier League rivals... with a five-year limit for the spread of transfer fees from next summer

By Matt Hughes For The Daily Mail

Published: 22:39 GMT, 23 January 2023 | Updated: 22:39 GMT, 23 January 2023

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UEFA are set to close the loophole which has enabled Chelsea to spread the cost of their record transfer spending over up to eight years after receiving complaints from other Premier League clubs.

Sportsmail revealed last Saturday that a number of Chelsea's top-flight rivals had accused the club of attempting to cheat FFP regulations by using amortisation to spread the cost of Mykhailo Mudryk's £88million fee over eight years for accounting purposes.

FIFA statutes already set five years as the maximum contract length, but exceptions are permitted, which Chelsea have utilised to defer much of the cost of the record £460million transfer spending since Todd Boehly bought the club last July.

Recent £88m signing Mykhaylo Mudryk signed the Premier League's longest contract ever

In addition to Mudryk, who signed the longest contract in the history of the Premier League, French defender Benoit