Many in the world of football finance appear to be coming to the realisation that there may have been more method on Todd Boehly and Clearlake Capital’s madness at Chelsea than they once thought.
A few good months of performances on the pitch are sufficient return on investment for the almost £1.5bn they have spent on new signings in their two-and-a-half years at Stamford Bridge.
But it is undeniable that things are moving in the right direction under Enzo Maresca, who is getting a tune out of players who his predecessors could not – and increasing their value too.
That will be key, as Chelsea’s hopes of complying with the Premier League and UEFA’s Profit and Sustainability Rules (PSR) will be as contingent on player trading as they are on commercial income.
This isn’t a new phenomenon. Under Roman Abramovich, Chelsea made more profit in player sales than almost any other club, with an industrial approach to developing players on loan before selling them on.
But arguably just as important is commercial income, with Chelsea looking to claw back some of their vast expenditure through sponsorships and merchandise sales.
But, it is safe to say, there have been some major missteps in this department from Boehly and Clearlake so far.
