With the situation not being resolved before Christmas as the prospective buyers had hoped, an administration would represent another nine-point deduction for the club. 23 points behind Arsenal already, that gap will open to 32 and despite being four points clear of the relegation zone at present, they would almost certainly be plunged down into it again.
The previous deduction has spurred the Toffees on in the league and they have won their last three games. Arsenal have been perhaps relieved that their 1-0 win at Goodison Park is out of the way and the next time they face them will be the final day of the season.
If the situation worsens for Sean Dyche’s side, their fate may indeed be sealed by May 19 and therefore not have anything to play for when they travel to the Emirates. Only time will tell.
Chelsea have been the club notorious for finding this loophole previously to spend massive amounts on the likes of Moises Caicedo, Enzo Fernandez and Mykhailo Mudryk – none of whom have stopped them from falling into the bottom half of the table this season - although it is worth noting the west London side voted in favour of the move.
Arsenal meanwhile have continued on a path of sensible signings, with some risk (i.e Kai Havertz) but have been measured. Take the Jorginho deal for instance, signed for £10million plus £2million in add-ons on and 18-month deal with the option of a further year.
Todd Boehly has already granted Mauricio Pochettino Chelsea wish after January transfer plea
Meanwhile, Declan Rice was signed on a five-year deal which of course has the scope for extension and an improvement in wages. Chelsea have players on deals which will either be locked into a set wage or locked into a set wage improvement agreed at the time of the deal regardless of their performance – unless there were very specific parameters to the wage increases related to performance.
Chelsea’s failure to turn around their form could see them miss out on European football for another season and that continual lack of revenue missed from not being in those competitions is sure to eventually catch up with them, especially if they want to keep spending. Player sales might keep that at bay for a time but with suggestions the likes of youth product Connor Gallagher could go the idea of a club identity seems to be fading alongside their loophole strategies.
Arsenal will continue to look down the table with something of a smile at how the two projects have diverged. Those pointing to the Gunners as some kind of example of what Chelsea have done should perhaps look back at the key differences between what is going on and that will reveal plainly that the Blues are not on that same pathway
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