Soccer-Chelsea top Premier League spending on agent fees in past year

Soccer Football - Premier League - Chelsea v Burnley - Stamford Bridge, London, Britain - March 30, 2024 General view outside the stadium before the match /Isabel Infantes/File Photo

LONDON - Chelsea spent 75.14 million pounds ($93.39 million) on intermediary and agents' fees in the past year, almost a fifth of the total paid by Premier League clubs, according to a report published by England's Football Association (FA).

In all, the FA said Premier League clubs spent 409.5 million pounds on intermediary and agents' fees for the 12 months from period Feb. 1, 2023.

Manchester City were the second-highest spenders in the top flight at 60.62 million pounds while Manchester United (34m), Liverpool (31.5m) and Arsenal (24.76m) rounded out the top five.

But Chelsea's spend on agent fees alone was more than most top-flight clubs paid on transfers.

It also eclipsed the combined total of agent fees paid by second-tier Championship clubs (61.34 million pounds).

The transactions involve new signings plus outgoing players or squad members who had their contracts updated.

After Chelsea were taken over by American Todd Boehly and Clearlake Capital, they bet big on young players signing long-term contracts, spending more than $1 billion in transfer fees since they bought the club in May 2022.

However, Chelsea have struggled to reach the lofty heights they did under former owner Russian billionaire Roman Abramovich, with the London side finishing 12th last season while standing a lowly ninth in the current campaign.

($1 = 0.8042 pounds)

(Reporting by Rohith Nair in Bengaluru; Editing by Ken Ferris)