Chelsea extend Mudryk & Fernandez deals despite already lengthy contracts

Chelsea have exercised their options to extend the contracts of Enzo Fernandez and Mykhailo Mudryk, tying them to the club deep into their thirties, per the Evening Standard.

Financial documents released by the FA reveal Fernandez has eight years remaining on his deal, taking him to 2032, with a weekly wage of £180,000. The Argentine international will be 31 by the time the contract runs out. 

Mudryk’s contract runs until 2031, with a reported weekly wage of £97,000. He will be 30 in 2031.

The motivations behind these extensions remain unclear, especially considering both players signed lengthy deals upon arrival at Stamford Bridge in January 2023. Also, they are not being pursued by any club in the transfer market, making the extensions even more puzzling.

Fernandez joined from Benfica for a mammoth £106.8 million, while Mudryk arrived from Shakhtar Donetsk for £88.5 million.

The FA released this information as part of their annual agent payments report, revealing Chelsea’s record spending on agents. 

The Blues paid a jaw-dropping £75.1 million in agent fees over the past year, the highest recorded amount in the Premier League.

This news comes amidst Chelsea’s financial struggles. Their recently published accounts revealed a pre-tax loss of £91.1 million for the 2022/2023 season, following losses of £121.4 million the year prior. 

Despite these substantial losses, the club continues to maintain they will comply with the Premier League’s Profit and Sustainability Rules (PSR).

However, they have been taking steps to mitigate the losses and ensure the club has leeway to spend in the coming windows while avoiding sanctions like potential point deductions.

Chelsea owners BlueCo have sold both the hotels on the Stamford Bridge site to another company they own, generating £75.6m of income. It will reportedly count towards their PSR compliance.

The Blues must be active in the market as they seek to sign a striker, centre-back, and left-back to plug massive holes in this poorly-assembled squad.