UEFA is reportedly scrapping Financial Fair Play (FFP) and will replace it with a new system of financial control which will give clubs more freedom over their spending.
FFP regulations were introduced in the 2010-11 season with the aim of preventing clubs from spending more than they earn in pursuit of success and silverware to ensure long-term sustainability.
But after over 10 years, UEFA has decided to end the FFP system according to journalist Tancredi Palmeri.
He claims that a new system will be announced as the replacement for FFP which will leave clubs with 'much more freedom' in their spending.
How does this affect Chelsea?
Chelsea are set for another blockbuster transfer window this summer after a spend on in excess of £220 million last summer, bringing in the likes of Kai Havertz, Timo Werner and Ben Chilwell.
Thomas Tuchel's side are looking to bring in a new centre-forward and Erling Haaland has been tipped as their number one target. He could cost in excess of £150 million to land this summer with several clubs showing serious interest for the 20-year-old.
The news about FFP will come as welcome news ahead of the window which could see Chelsea be given the green light to splash the cash even further this season in the search to dominate England and Europe once again.
The report hasn't stated what the 'new system of financial control' will consist of.