£323m splashed in January: How Chelsea avoid FFP sanctions

Chelsea have splashed over £323m in this January transfer window after completing a British record deal for Benfica's Enzo Fernandez - so how are they able to spend such huge sums and stay within Financial Fair Play rules?
The UEFA FFP regulations are designed to limit excessive spending and there are also Premier League rules which put a cap on the losses a club can suffer over a three-year period. Large fines or points deductions can be dished out as punishment to clubs which don't adhere to the rules.
But with the Blues agreeing a £106.8m transfer for Fernandez, new Chelsea co-owner Todd Boehly will have overseen a spend £600m since the takeover in May 2022 - and they appear to have stayed within the guidelines.
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