EPL: I will not spend big like my predecessor-Chelsea owner, Boehly

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Chelsea owner, Todd Boehly, has informed his club management that he will not spend as much as his predecessor Abramovich did.

He warned that clubs will no longer be able to sign players “at any price” due to the risks of sanctions from breaching UEFA’s financial fair play rules.

Recall that Boehly led an investment group to take over the Blues last month.

The American bought the Premier League side after Roman Abramovich put the club up for sale following Russia’s invasion of Ukraine.

Chelsea have been the most successful team in England since Abramovich bought the club in 2003, mostly due to the Russian’s investment.

But Boehly said at the SuperReturn International conference in Berlin: “Financial fair play is starting to get some teeth and that will limit the ability to acquire players at any price.

“UEFA takes it seriously and will continue to take it seriously. [More teeth] means financial penalties and disqualification from sporting competitions.”