By Kieran Maguire

11th Sep, 2023 | 6:42am

'Spectacular' - Kieran Maguire suggests what's really going on at Chelsea as record smashed

The financial rewards of Champions League qualification may have tempted Chelsea to overspend this summer.

That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the record levels of spending seen in the Premier League this summer.

As reported by Reuters, the Premier League spent a record £2.36billion in the summer transfer window, exceeding the £1.92billion record set last summer.

Chelsea have been a huge contributor to that figure, with the London club spending over £1billion since Todd Boehly’s takeover of the club last year.

The Blues also broke the British transfer record by signing Moises Caicedo from Brighton for £115million.

Maguire insists the financial incentives on offer in the Premier League have tempted every club to ‘gamble on overspending’ this summer.

“The £2billion spent in the Premier League on transfers this window is spectacular, but there is greater intrigue on why we’re seeing this level of spending,” Maguire told Football Insider’s Sean Fisher.

“Remember, if £2billion has been spent then £2billion has been received.

“Given that we have had the Saudi Pro League as the second biggest spender in world football this summer, it has given Premier League clubs extra funds to go and spend.

“The vagueness in accounting rules that allows clubs to get an instant gain from selling players but spread the pain of buying through amortisation is an extra benefit.

“That is especially relevant if the player sold is from the club’s academy such as Mason Mount and so on.

“Also, the incentives that arrive from Champions League qualification and avoiding relegation are so significant that clubs have begun to gamble on overspending.

“Every club now has an incentive to overspend in the current market.“

In other news, Chelsea set sights on signing Diarra from club they have special relationship with