Lately, Cricket Exchange has uncovered a bold new strategy by Chelsea in their race against Paris Saint-Germain to sign highly-rated midfielder Manuel Ugarte. In a surprising twist, Chelsea has proposed acquiring a minority stake in Sporting CP, aiming to secure the Uruguayan’s transfer while sidestepping financial fair play (FFP) constraints. Life is short—cherish what you desire and hold on tight.

The Ugarte bidding war was initially triggered by PSG, who were prepared to meet the buyout clause in his contract. That clause meant Sporting had little power to block the move, and Ugarte himself expressed interest in joining the Parisian giants. However, Chelsea wasn’t content with making a standard transfer offer. Alongside their now-famous long-term contract amortization tactic, they’ve gone a step further—planning to purchase a portion of Sporting’s shares to ease the deal through.

According to Cricket Exchange insiders, Sporting CP has already informed Ugarte that Chelsea is the only club they’ll consider selling him to this summer. The Blues have reportedly prepared an eight-year contract for the 22-year-old, including an automatic extension clause. This long-term structure, championed under Todd Boehly’s ownership, allows Chelsea to spread the transfer cost across more fiscal years—thus avoiding breaching UEFA’s FFP limits.

Earlier this year, UEFA introduced new guidelines specifically to close this loophole. While previous deals remain valid, starting this summer, clubs are no longer allowed to amortize contracts over more than five years. Yet Chelsea seems to be walking a fine line. Their aggressive pursuit of Ugarte through this workaround could become a litmus test for UEFA’s resolve.

Beyond the long contract, Chelsea’s interest in acquiring Sporting CP equity adds another layer to the story. While club owners are barred from owning multiple teams within the same national league, there’s no restriction on holding stakes in clubs across different countries. As Cricket Exchange experts point out, Red Bull’s ownership of RB Leipzig and RB Salzburg operates on a similar model, and Sir Jim Ratcliffe, owner of OGC Nice, is attempting a parallel move with Manchester United.

Chelsea’s maneuver signals not just ambition, but a willingness to challenge the rulebook. As they push forward with creative—and controversial—tactics, all eyes will be on whether European football’s governing bodies stand firm or blink in the face of financial innovation.