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Kieran Maguire slams Chelsea board over £40m deal - 'questions have to be asked'
The Chelsea board have put additional stress on the club’s FFP situation by not finding a front-of-shirt partner.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that ‘questions have to be asked’ of the hierarchy at Stamford Bridge.
The Blues struck a deal with US group Ares Management this week to invest a further £400million into the club.
As revealed by Football Insider the deal has taken total investment in the club to over £2billion since Todd Boehly’s consortium took charge of the club.
While Chelsea are raising funds externally through Ares Management, the London club are still yet to strike a front-of-shirt sponsorship deal despite a £40million agreement being reached with Infinite Athlete.
Maguire believes ‘eyebrows will be raised’ at Chelsea after their huge levels of investment have not translated to on-pitch success.
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“I think there will be eyebrows raised at Chelsea at the amount of money that they’ve invested in the squad compared to the results on the pitch,” Maguire told Football Insider’s Sean Fisher.
“They’re very good at moving players on, but I think questions have to be asked about the abilities of the people at the club.
“We are almost into October and they still don’t have a front-of-shirt sponsor.
“That is worth £40million a year, which would cover quite a few wages.
“It puts additional stress on the club in terms of compliance with financial fair play.
“If you add into the mix that they are not in the UEFA competitions this year themselves, then that’s an even bigger reduction in income.“
In other news, Chelsea step up takeover talks after £400m development