According to Daily Mail, the Premier League are set to close the Financial Fair Play contract loophole that is being successfully exploited by Chelsea by bringing their accounting rules in line with UEFA’s from next summer.

Under the ownership of Todd Boehly, Chelsea have handed long-term contracts to players to help spread the cost of transfers and avoid breaching FFP rules.

UEFA responded to Chelsea’s innovative approach to player contracts this summer by setting a five-year limit for transfer fees to be paid irrespective of the length of the deal, but in the Premier League there is no such restriction. 

The £115million fee Chelsea have agreed with Brighton for Caicedo can therefore be spread over the eight years of the Ecuador midfield player’s contract, while the new UEFA ruling will not affect Mauricio Pochettino’s side this season as they have not qualified for Europe.

Several Premier League clubs now want the amortisation of transfer fees to be limited to five years just as UEFA. It is now set to be discussed at shareholders’ meetings this season, with a view to a rule change being introduced next summer.

Chelsea spent over £600m last season, but with most of the new signings given seven or eight-year contracts the accounting cost was under £100m, whereas the Blues have raised almost £200m this summer in player sales.