Chelsea's strategy under owner Todd Boehly of signing expensive young players on long contracts to spread the cost introduced the word 'amortisation' to the footballing lexicon.

Enzo Fernandez's eight-year deal as part of his £106m transfer was one high-profile example.

The above graph shows total amortisation cost for the financial year and relates to all the players in the squad who have been signed for transfer fees. It counts as a cost on Premier League profit and sustainability (PSR) accounts.

Chelsea unsurprisingly lead the way by a considerable distance, with the majority of new signings being signed to at least six-year deals to spread payments across a long period and limiting the losses per year - thus helping meet PSR requirements.

Maguire says there is "an extremely high correlation between wages and final league position" but it is clear from the graph that this does not apply to Chelsea.

The Blues are only second to Treble-winning, all-conquering Manchester City when it comes to their average weekly spend on wages but finished 12th last season and are currently languishing in ninth currently this.

Their wage bill also rose by 18% from the 2021-2022 season to £404m total.