When Todd Boehly first took over at Chelsea, there was talk of how he was emulating a similar model to that implemented by FSG at Liverpool. Subsequently, the transfer cost of over $1 billion appears to be similar only for the passport country. The strategies of the two clubs could have changed since the arrival of Boehly. But Liverpool and Chelsea have both struggled in their debut seasons as hosts at the new Stamford Bridge, with one languishing in the bottom half of the table and the other battling for the title.
How times change. In March 2022, our colleagues at football london predicted that Bohley would create a structure similar to the one that allowed Jurgen Klopp to achieve greatness at Anfield. “Liverpool is perhaps the best example of where Chelsea could go under Bohley,” writes Daniel Childs. “American ownership is a self-sustaining model that can be balanced by the intelligence of the trainer.”If we had to sum up Bohli’s reign at Chelsea in one word, it would certainly not be self-sustaining.
The Blues continued to make transfers, spending more than they earned and even deletions to even out the numbers on the books somewhat.
These accounting tricks don’t work forever either. The Premier League has approved rule changes that will limit refunds to five years, despite longer contract terms. Meanwhile, according to the Mail, Chelsea are close enough to the FFP limit that there are fears the sacking of Mauricio Pochettino and his staff will push them over the limit.
It’s a messy situation. But if Bohley had paid more attention to Liverpool’s American leader, namely Klopp, he might not have embarked on this brilliant strategy in the first place. To a very limited extent, Liverpool can be an example of the need to spend. The club has been financially overtaken by Manchester City over the years and as a result has fallen short on several occasions. But no club in English football has ever achieved this feat under Pep Guardiola.
A more important lesson to be learned from Liverpool is that spending smart is more important than spending big. Chelsea did nothing of the sort. The first years of business were overseen by Bohley himself, who was the sports director, although he had no experience in the field. Since then he has received professional appointments, but most signings have been in favor of Graham Potter, immediately costing the club more money.
Pochettino, now brought in as a substitute, has no choice but to be tolerated due to FFP restrictions. It seemed like a good deal at the time, but Chelsea didn’t think about how things would turn out before backing him with a blank cheque.The contrast with Klopp is great. Pochettino has sought to draw comparisons between Liverpool and Chelsea, showing the patience he has shown his teammates in building a dynasty, but FSG have recorded a net transfer outlay in the German’s first two years in charge.
