Saudi Arabia could be secretly about to get Chelsea out of their mess

Rory Fleming

Saudi involvement in the Premier League appears to go farther than just Newcastle United…

Having spent north of £600 million in the two transfer windows since Clearlake Capital’s purchase of Chelsea, the South London club had been teetering on the brink of financial turmoil.

Needing to balance their books prior to June 30th in an attempt to stave off potential charges relating to financial fair play (FFP) regulations, the Blues have reportedly placed virtually their entire playing squad on the market.

Todd Boehly was seen on a trip to Saudi Arabia just last week. (Credit: Getty Images)

Todd Boehly not the sole owner of Chelsea

Now though, it appears that any impending crisis has been averted, thanks to the help of Saudi Arabia’s now infamous Public Investment Fund (PIF).

The PIF first entered the footballing public’s consciousness during the 2021/22 Premier League season, when they purchased Newcastle United for a sum of £305 million from the much-maligned businessman Mike Ashley.

This acquisition caused uproar amongst fans and the footballing media, not only due to the financial disparity it would create within the English top-flight, but also due to the nation’s human rights record which includes the execution of journalists and the banning of homosexuals.

However, Saudi Arabia’s incalculable financial muscle is now seemingly influencing the goings-on at other Premier League clubs too, namely Chelsea.

Todd Boehly is often mistaken for being the sole Chelsea owner, although he is merely the public face of the consortium Clearlake Capital, the club’s new majority shareholders.

Clearlake purchased the controlling 60% stake in Chelsea for a reported £4.25 billion last summer, with the investment firm amassing its wealth from managing a portfolio of around £60 billion on behalf of 300 investors.

This is where the waters begin to muddy, with one of those 300 investors being the Saudi PIF.

The PIF first rose to public prominence in England following their purchase of Newcastle United in 2021. (Credit: Getty Images)

Five Chelsea players could move to Saudi Arabia

Although, upon Clearlake’s purchasing of Chelsea, the Premier League found Saudi involvement within the firm not to be of sufficient enough levels to prevent the sale from going through.

Despite these findings though, the fact that the Blues’ owners hold close business ties with the PIF cannot be dismissed.

These close links have now reared their head, as five Chelsea players, all with little-to-no value in the current market due to their colossal wage packages or short-term nature of their contracts, are set to sign for PIF funded clubs in Saudi Arabia.

Champions League winning goalkeeper Edouard Mendy was deemed surplus to requirements by the new ownership, and is now on the verge of a transfer to Al Ahli, with teammate Pierre Emerick Aubameyang also in talks with the club.

Wide forward Hakim Ziyech, who saw a January deadline day switch to PSG fall through, is set to sign for Cristiano Ronaldo’s Al Nassr, with personal terms having already been agreed.

Kalidou Koulibaly, who Chelsea signed for £34 million just last summer, is heading to Al-Hilal where he will link up with Wolves captain Ruben Neves.

Four Chelsea first-team players, including N’Golo Kante and Hakim Ziyech, are set for moves to Saudi Arabia. (Credit: Getty Images)

And finally, the ageing N’Golo Kante, who is out of contract this window, is set to become one of the game’s highest earners with a switch to Al-Ittihad.

As if these transfers weren’t enough to convince fans of Saudi Arabia’s coordinated involvement in dealings at Stamford Bridge, Todd Boehly himself visited the country last week and held face-to-face meetings with the Al-Hilal president.

Given Chelsea’s already considerable financial might, and now with the unveiling of the club’s tightening links with the PIF, rival fans have taken to social media to voice their concern with the precedent being set by Clearlake Capital.