CFC Raleigh

Chelsea Pitch Owner; lover of trophies and exquisite football; supporter of the players and the club; adversary of accepting mediocrity

[Ollie Glanvill 🏆x6 @OllieGlanvill]

Not sure why anyone is surprised that Emegha has no guarantees next season. In their infinite wisdom the SDs decided to try and replace Nico before he’d left. Emegha has had big injury issues. Bayern were never paying the fee. Nico is back and better than him. Obvious end result

[CFC Raleigh @CFCRaleigh]

@SebC__ But BlueCo can’t pay market wages because they’re too clever 🤡

[Bobby F. 🍁 @bobbyfairview]

Blueco still in denial, but I’m seeing a worrying trend that no one is interested in buying their assets.

It’s one thing to hoard young players to flip, but it’s another to give them the right development to increase their valuations.

This project is screwed at so many levels.

[CFC Raleigh @CFCRaleigh]

@CFC618 @ChelsTransfer Of course Juve can have a player who would help Chelsea - this ain’t it

[CFC Raleigh @CFCRaleigh]

@TheChelseaHubs @TheChelseaForum How is Chelsea’s asking price for Spain’s starting left back who has multiple clubs interested LESS than what these idiot sporting directors paid for Gittens when nobody else wanted him?

How are these people still working for the club?

Unserious clowns out

[CFC Raleigh @CFCRaleigh]

@bobbyfairview Turns out it’s a bad idea to overpay for underperforming assets & assume they will magically gain value when you throw them into a tire fire

Who could have possibly seen this coming

[Bobby F. 🍁 @bobbyfairview]

📣 The post-Diarra regulatory framework confirms my conclusion that Chelsea's long contract strategy is a dog's breakfast.

Under Article 17 of FIFA's regulations, a player must serve a protected period of 3 years before they can unilaterally terminate their contract. Once that period expires, the player holds the right to leave at a compensation cost determined by a Tribunal at FIFA rather than by the club. When a player wants to leave, Blueco therefore has no choice but to accept the highest offer.

Before the Diarra ruling, clubs had a powerful deterrent: FIFA's rules allowed the former club's national association to withhold the document required to register a player anywhere in the world, effectively freezing them out of competitive football for as long as the dispute ran. That deterrent is now gone. A player can walk out, sign for a new club, and play competitive football immediately while compensation is resolved separately.

Article 17 can only be invoked within 15 days of the final match of the season. A player whose three year anniversary falls in, say, August has technically exited the protected period, but cannot invoke Article 17 until the end of season window, which may be nine or ten months away. Miss that window and they wait another full year. The departure risk for Chelsea is therefore not continuous. It is concentrated into a narrow window at the end of every season, and given the number of long contracts the club holds, multiple players could simultaneously be in a position to trigger it.

Enzo Fernandez joined Chelsea on 31 January 2023 on a contract running to June 2032. His three year protected period expired in January 2026. He has not signed a new contract. The first available notification window after his protected period expired is the 15 days following the final match of this season, which is now imminent. When that window opens, Enzo will be free to trigger Article 17. Whereas this timing mechanic might force Palmer to wait until the end of the 27/28 season.

This asymmetric option sits inside every Chelsea long contract as an embedded derivative that the accounting framework does not capture. Player registrations are carried as intangible assets under IAS 38 at amortised cost, a standard that has no mechanism to recognise a contingent right embedded in the underlying contract. The option exists, it has real economic costs, and the framework simply allows it to go unrecognised.

Much like a portfolio of players held for trading being recorded at historical cost with no mark to market, the standard was never designed to price this kind of regulatory risk. The player holds the right to leave at a Tribunal-determined cost. The club holds no equivalent right. That asymmetry is unpriced, invisible and consequently the accounts are misleading.

Blueco structured long contracts to manage reinvestment risk. The Diarra ruling has converted those contracts into unpriced options in favour of the players. Enzo Fernandez is the most visible example right now, but he is not the only one.

Meanwhile Blueco continues to pursue this absurd strategy and never seems to wonder why no other club is copying them.

[CFC Raleigh @CFCRaleigh]

Stop saying the goal is too 4. The goal is to win the league. And the FA Cup. And the League Cup. And the Champions League. Every year.

Stop tolerating mediocrity

Stop rewarding incompetence

Stop hiring anyone from Brighton or connected to Shields

Good start

[CFC Raleigh @CFCRaleigh]

In the 30 yrs before BlueCo, CFC had two genuinely bad seasons.

In the four years under BlueCo we have had our two worst seasons.

This is actually not that hard to address if we just stop doing the stupidest possible thing at every opportunity & prioritize winning now. 🧵

[CFC Raleigh @CFCRaleigh]

Stop thinking that the people who got us into this situation should have any role in determining what comes next. Their track record shows that they are awful at recruitment and worse at negotiation.

Stop giving more chances to players who have shown they���re not good enough.

[CFC Raleigh @CFCRaleigh]

@SJohnsonSport Jorgensen

Has had more chances than he deserved, contributed absolutely nothing of consequence, simply not good enough for Chelsea. Plus an example of why these sporting directors are so bad - nobody else was after him, it was obvious he had no business here at time of purchase.

[Charlie Patrick @charliepatrick0]

BlueCo’s Chelsea year four:

- 10th placed finish
- 1 win in six against promoted sides
- £2bn spent
- 3 managers in charge
- 7 wins out of 19 at home
- Over 30 points behind Arsenal
- 2 wins in 13 to finish the season

Totally unacceptable on all levels, complete disgrace.

[Conn @ConnCFC]

Chelsea’s PL points tally in the PL & money spent each year under Blueco

• 1st year - 44 points (£545m spent)
• 2nd year - 63 points (£388m spent)
• 3rd year - 69 points (£245m spent)
• 4th year - 52 points (£293m spent)

Absolutely pathetic.

[CFC Raleigh @CFCRaleigh]

Enzo can go - was promised a world class project then given Jorgensen, Delap, Tosin, etc. Don’t blame good players for not wanting to waste their career at an unserious club.

Nothing BlueCo has done to date suggests they will use that money to improve the first team.

[CFC Raleigh @CFCRaleigh]

We may have stumbled into having the best manager in the PL through absolutely no genius on the part of the ownership.

Maresca is no Pep. Slot at Liverpool is a gift. Arteta is Arteta. Carrick? Unai?

Xabi Alonso was clearly the best available.

Now get Shields to fuck off

[CFC Raleigh @CFCRaleigh]

@OllieGlanvill McFarlane is the owners mole.

God only knows what kind of kompromat Ben Roberts has.