Chelsea ‘desperately trying to slash wage bill by £80MILLION’ after Todd Boehly’s £1billion spending spree
CHELSEA are trying to cut their annual wage bill down by an astounding £80million after their mammoth spending spree under Todd Boehly.
The Blues were taken over by Boehly and Clearlake Capital back in May of 2022 and they have spent over £1BILLION on transfers since his arrival.
And now it looks like they need to sort out their cash elsewhere after one of Clearlake’s co-founders revealed they are trying to trim down their wage bill.
Jose Feliciano spoke about their money-saving plan at the IPEM private equity conference in Paris.
He said: “I think what we are trying to do is reduce the salary and essentially the opex [operating expenses] of the business by over $100m (£80.6m) per year.”
And despite Chelsea‘s shocking form not matching up to their huge expenditure, Feliciano ensured fans that they are hoping to get back to winning ways and have collated a hugely talented squad.
“Ultimately, we are extremely aligned with that supporter and fan base because the best way to make our club more valuable is to win.” He explained.
“The team had a tough first season, our first season. We have a tremendous amount of talent.”
Chelsea have already brought in big name players like Mykhailo Mudryk for £88m and Enzo Fernandez for £110m.
As well as smashing the British transfer record with the purchase of Moises Caicedo for £115m from Brighton in the summer transfer window.
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But with big names come big wages and the Stamford Bridge outfit will have to find a way to reduce their expenditure on salaries in order to save money.
They’ve made a start by offloading players such as Kai Havertz to Arsenal for £65m and allowing N’Golo Kante, Edouard Mendy and Kalidou Koulibaly to swap West London for the Middle East this summer.
But there are still problems that need solving with some big money players not even part of the squad.
Malang Sarr is earning over £100,000 per week at the club and wasn’t even included in Mauricio Pochettino’s Premier League squad for the season.
There are issues that need solving on the pitch too for Chelsea with the club winning just six games in all competitions in the entirety of 2023.