Caicedo revelation pokes another hole in Chelsea transfer strategy under Boehly

Suraj Radia

• 7 Mar 2024 21:15 GMT
• 4 min read

Todd Boehly’s transfer policy has continued to come under scrutiny after Moises Caciedo revealed that he has struggled with the pressure of his record transfer fee during his first season at Chelsea.

The Blues beat Liverpool to Caicedo’s signing last summer after making a British record offer of £115 million to Brighton but the 22-year-old has so far failed to live up to his pricetag, with Chelsea sitting in 11th place in the Premier League.

The signing took Boehly’s outlay on players to more than £1 billion in less than two years as Chelsea owner and the club now face the threat of sanctions from the Premier League following a £90m pre-tax loss last year, which puts them in danger of violating profit and sustainability rules.

READ MORE: Chelsea’s 10 most expensive transfers of all time

"At first it was difficult for me," Caicedo told ESPN Argentina. "I wasn't enjoying it because I felt a little pressure because of what I cost and because the team hasn't done well.”

While Caicedo’s form has improved in recent weeks, Chelsea have been left with little choice but the persist with their big money signings such as Mykhailo Mudryk and Enzo Fernandez despite question marks over their value and long-term suitability.

Boehly’s insistence on limitless spending and handing eight-year contracts to his signings to spread the cost of transfers has backfired both on and off the pitch, with Chelsea now in a precarious position to regain their status as Premier League elites.

Pochettino and Chelsea will pay the price for Boehly errors

Chelsea may also be looking for their fifth full-time manager since Boehly’s arrival, with Mauricio Pochettino’s job under pressure after an underwhelming campaign, but the Argentine has faced the unenviable task of trying to form a cohesive identity from the club’s scattergun transfer policy.

The vast majority of transfers by Boehly and co-owner Behdad Eghbali have yet to display significant returns and the club are counting the cost of the investment into overvalued and underperforming assets.

READ MORE: Latest Chelsea transfer news

For the players, while they have remained professional and committed to the task at hand, there is naturally a question of motivation given their long-term contracts on comfortable wages with seemingly no consequences for poor performances.

Pochettino will likely pay the price for Boehly’s shortcomings as an inexperienced football club owner and Chelsea will continue to push the limits of financial rulings to dig themselves further out of the hole they’ve created.

With the Premier League appearing to take a new ruthless stance on poor economic control, Chelsea will be fortunate if their problems are only limited to mid-table mediocrity and the potential blessing of a transfer ban, which would forcefully reign in Boehly’s ‘kid in a candy shop’ approach.

Instead, Chelsea’s declining finances could lead to worse outcomes down the line and it will be the manager and the club left holding the bag to pay for the misguided vision of Boehly and his riches.