Todd Boehly seeking £500m loan to 'keep up' with Premier League rivals despite £1bn transfer spend

Chelsea will continue their spending spree in the coming months, with Todd Boehly seeking a loan worth up to £500 million, say reports.

The Premier League club's transfer business under the ownership of Boehly and his consortium has been active, to say the least.

Chelsea's spend since the owners completed their acquisition in 2022 reached £1 billion on deadline day, when Cole Palmer arrived from Manchester City in a dealt worth £40 million.

Palmer was just one of several arrivals this summer. A British-record £115 million was spent on Moises Caicedo, while Christopher Nkunku, Romeo Lavia, Axel Disasi and Nicolas Jackson were all signed for hefty fees.

This summer was another statement of intent from the Boehly-led consortium and, if reports are to be believed, they will seek a large loan to "keep up" with Premier League rivals.

That's according to The Sun, who suggest Chelsea are looking to raise up to £500 million from US financial institutions as they continue to strengthen.

"The big spenders of Stamford Bridge are seeking a loan — something other Premier League clubs have done in recent years," the report reads.

Chelsea have struggled in the opening weeks of the campaign. Mauricio Pochettino's side currently sit 15th in the Premier League ladder after one win from a possible six.

Speaking ahead of their clash against Fulham on Monday, Pochettino asked for patience.

"We need more experience, but that is about time," he told Sky Sports. "We need to provide the players playing in the Premier League the experience that they need.

"It's a tough competition. I think it's the toughest competition in the world."

READ MORE:

• Manchester City made a secret transfer request to Chelsea earlier this year

🗣️ “How long is this project for you?”

🗣️ “Two years?”

Mauricio Pochettino says Chelsea expect to see results from their new young experiment within 2 seasons. 🔵👀 pic.twitter.com/hTZ9v7zHw0

— Football Daily (@footballdaily) October 2, 2023

He added: "I think we need time because I think we have talented players but that is one of the key points, that we need time to improve individual and collective the team in the way we want to play."

Thoughts on Chelsea's business in recent transfer windows?

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