alekaras
The ITK of IDK
From an accounting standpoint you are correct, but that's not the point I was making though. My point was that what matters is whether the players they sell are key to the manager's plans. If the academy players they sell are key to the plans, then it's going to be to the detriment of their on-pitch performances. Which means either the performances will suffer, or they will have to spend to replace them to keep performances high. Either way, it's not looking good for them.It matters where they have come from because for FFP, which is what Chelsea will be concerned about assuming they feel the regulations will be enforced, the remaining asset value of the player would have to be set against the book value of the player (transfer fee paid minus the transfer fee paid divided by the initial length of contract given to the player).
So this summer selling (e.g.) Mount for £50m would be a better deal than selling (e.g) Enzo Fernandes for £100m. This is because Fernandez would still have a book value of £93 million this summer and therefore a £100m sale would only be booked as a £7m profit, whereas Mount would have a book value of zero and therefore allow Chelsea to book a £50m profit.
That is why I think we'll see Chelsea selling one of the players who have come through their academy in each of the next several summers. Mount this year, Gallagher next year, James the one after, etc.