Chelsea are reportedly prepared to approve Reece James’ £60 million summer exit.
In order to balance their budget and avoid penalties for breaking the Premier League’s Profitability and Sustainability Rules, Chelsea are reportedly ready to approve the departure of captain Reece James, according to a report by The Times.
Since being taken over by Clearlake Capital in 2022, the Blues have spent more than £1 billion on coaching staff, player transfers and support staff.
They didn’t get the type of returns they were hoping for from those investments, which has left them in a bit of a financial bind.
Chelsea are hoping to avoid a serious punishment
The Blues might might get punished with a point deduction penalty if they continue to violate the Profit and Sustainability Rules, much like Everton and Nottingham Forest have already done.
Furthermore, because homegrown players will help balance the books and be recorded as direct profit, the Blues are prepared to approve the departure of these players in order to avoid any penalties.
In order to avoid going over the league’s £105 million cap on permitted losses over three years, the London club hope to bring in more than £100 million in revenue by the end of June.
And to that end, they are prepared to sever ties with James, who was appointed the team’s skipper last summer.
The defender has been a key player for Chelsea
James, who has a deal with the Blues through 2028, is the player in Mauricio Pochettino’s current team with the most games played.
The club’s management is rumoured to have been targeting a £60 million transfer fee.
James advanced through the ranks rather quickly and has long been a key member of their squad. However, he has only played in nine games this season due to his injury struggles.
The England international has been linked with a move to Real Madrid in the past but it remains to be seen if the La Liga leaders would be willing to invest in him.