Chelsea are one of four clubs that have joined in a scheme to exploit loopholes in the existing Profitability and Sustainability rules.
That has seen Ian Maatsen sold to Aston Villa for a fee of ₤37.5 million, whilst they are on the verge of signing Omari Kerryman from the West Midlands club for ₤19 million.
There have also been a number of deals involving players from Everton, Villa and Newcastle United swapping clubs.
It is no coincidence that all the clubs involved were in danger of breaching rules regarding allowable losses.
All these deals have involved clubs selling home-grown players which count as pure profit in their books. However, by the same token, they are allowed to amortise the acquisition costs over the length of their contracts, up to a maximum of five years.
Although this is not technically illegal, the Premier League has warned that such deals could breach regulations which require transfers to be done in good faith.
