It seems a silly idea on so many levels, but in the weird world of football accounting, it may just happen… the Raheem Sterling – Jadon Sancho swap deal (or pseudo-swap deal) is still on the cards.
The latest reporting comes from Ben Jacobs, who has good contacts at both clubs. He says that Chelsea and Manchester United have had an “exploratory conversation” over a swap deal for the two.
With the transfer deadline closing in, both parties are keen to shed their unwanted asset, and while what they get in return might not be super appealing… it’s better than an unhappy superstar on mega-money sitting around the training ground (or at home, in Sterling’s case).
Jacobs makes it clear that Sterling is not “yet” directly involved in talks, he’s just “open to the move.” Given he’s been given no doubts that he’s not wanted at Chelsea, we wouldn’t be surprised if even a move to the somewhat dysfunctional Man U seems appealing.
Chelsea and Manchester United have held an exploratory conversation over a swap deal for Jadon Sancho and Raheem Sterling. Sancho also pursued by Juventus.🔴
Sterling not involved in talks yet. He is open to the move, as reported, but obstacles to overcome with #CFC first.🔵 pic.twitter.com/VrCsTYirnQ
— Ben Jacobs (@JacobsBen) August 27, 2024
Magic and sorcery as accountants cook the books to perfection
If you’re wondering why we would swap one disappointing England winger for another – the trick is in the books. If we sell Sterling for (say) £50m and sign Jadon Sancho for £50m at the same time, we get to include the £50m for the sale on this year’s accounts, while only the first (say) £10m of Sancho would be on there. So this year we make a net £40m profit on the deal as a whole, then we just pay £10m a year for Sancho for a few years.
In the end, everyone ends up square, but both clubs get to hack away at their PSR and FFP spending for the year. It’s all part of the mad series of unintended consequences and perverse incentives unleashed by these rules and clubs’ desperation to get around them.
