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mega money Joe Cole insists Chelsea should not be compared to big spending Man City and PSG

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Chelsea paid Inter Milan £97.5m for Lukaku. Photo: Reuters

Chelsea paid Inter Milan £97.5m for Lukaku. Photo: Reuters

Chelsea paid Inter Milan £97.5m for Lukaku. Photo: Reuters

Joe Cole has insisted Chelsea should not be compared to Paris Saint-Germain and Manchester City after they broke their transfer record to sign Romelu Lukaku from Inter Milan.

Speaking exclusively to sundayworld.com at a BT Sport event, former Chelsea attacking star Cole suggested his former club have devised a business model that ensures they are not relying on the input of owner Roman Abramovich to remain a force at the top of the game.

The reigning European champions spent £97.5million to sign Lukaku from Inter Milan last week, but the sale of striker Tammy Abraham for £34million to Roma on Monday brought their total income on sales this summer to close to £100million.

"The people who bought the club when I went to Chelsea are very intelligent and they have built a successful business model that is sustainable," Cole told us.

"They use the academy system to produce players that are either good enough to play in the first team like Mason Mount, or they sell them and fund new signings.

"The people in charge of Chelsea have found a way of winning trophies and funding new players all at once, so you have to give them credit for how they do it."

Cole also claimed modern players being viewed as assets who are being given contracts based on their commercial value as much as their playing talents.

Chelsea handed Oliver Giroud a new contract earlier this year before selling him a few weeks later and Cole suggests this is a sign of the new approach to handling players.

"Football has changed from my day in so much as players are assets now as well as footballers," added Cole, who won three Premier League titles with Chelsea.

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Joe Cole

Joe Cole

Joe Cole

"We see players these days getting handed new contracts when they are not even playing and back in my day, that wouldn't have happened.

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"If a manager decided he didn't want a player 20 years ago, he would be moved on and someone else would come in to replace him.

"Now, we see clubs giving players new contracts because they are business assets and they need to be under contract to make sure they are worth something in the transfer market.

"It's harder to not get a contract these days and that tells me that decisions on the future of players are being decided by the business people rather than the football people, which is an amazing evolution in the sport."

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