Premier League chief executive Richard Masters will reserve judgement on Chelsea's spending until seeing what they do in subsequent transfer windows.
After a busy first window following the May 2022 takeover by Todd Boehly and Clearlake Capital, Chelsea went even further in January, signing eight players for an approximate total of £300million, including a Premier League record £106.8m on Enzo Fernandez from Benfica.
Speaking at the Financial Times Business of Football Summit, Masters was asked about the Blues' spending, and was not in the mood to pass judgement.
"I'm not here to defend [them]," he said. "The new owners have owned the club for less than a year, they've had two transfer windows, and you need to judge the football club after three or four years.
"They might have bought, they would argue probably... a different transfer policy to the previous regime, buying younger players and [signing them to] longer contracts at low wages. And obviously, within our rules, it's a test that is over a 12-month period.
"So the question is whether they're going to sell some of their existing players in the next window. And I don't know the answer to that question. I'm not here to defend them, but you have to judge these things over a period of time."
Masters also spoke about the UK government's recent white paper on reforming football governance, outlining a plan to introduce an independent regulator for clubs in the English football pyramid.
"It is a significant moment for English football, things are going to change," Masters said. "The review process has concluded, the white paper is finally out and we're all getting the opportunity to reflect upon it.
"I think from the Premier League's perspective, we've always accepted that there needs to be stronger regulations, more independently enforced, and the white paper offers to deliver that... we would like to protect everything that's great about English football, including the Premier League, but sit on the top and make sure that the system doesn't run too hot.
"It's dealing with football [through] sustainability, ownership, and fan interests. And who can argue with those three objectives?
"Our concerns would be clear; it's an independent regulator with a lowercase i, it reports to politicians, and can be instructed by politicians. And so we would be worried that over time, football might become the ultimate political football.
"... I think the league should continue to write its own rules and continue to govern itself, and the regulator hopefully will only step in as and when necessary, when regulation is seen not to be performing, or the clubs are financially overheating to the point where the regulator needs to step in."
Masters was also asked about recent comments from Crystal Palace manager Patrick Vieira on the lack of black coaches in the Premier League.
"There's always more that we can do... Patrick is right," Masters said. "If you look at the diversity on the pitch, and it's not just in the Premier League, it's throughout the academy system, it is incredibly diverse, but that isn't translating into opportunities for people from ethnic backgrounds, not just in coaching but in other employment pathways as well.
"We have a number of schemes in place at the moment. Player-to-coach pathways, player-to-executive pathways. We launched this last year. We have seven ex-Premier League players and WSL players who are participating in that.
"So Patrick is accurate to say there's an issue and to raise the point and to put pressure on football authorities to do more, and we'll always look at that."
Inzaghi expecting Arsenal reaction after Newcastle defeat
Inter boss Simone Inzaghi is expecting a difficult test against "one of the best teams in Europe" when Arsenal visit the San Siro in the Champions League on Wednesday.
Arsenal come into the encounter against the reigning Serie A champions on the back of a defeat to Newcastle United in the Premier League last weekend.
Mikel Arteta's side have now lost two of their last three league games, having tasted defeat just once in their 25 games in the top-flight (W21 D3) in 2024.
But Inzaghi, who helped Inter keep pace at the Serie A summit with a controversial 1-0 win over Venezia, is expecting a reaction from the Gunners.
"We are facing one of the best teams in Europe, very recognisable with a great coach," Inzaghi said.
"We all know how the big teams react after a defeat. Look at us after the derby... You find teams out for redress.
"I saw the match between Arsenal and Newcastle. Playing at Newcastle's home is not easy, but it was an open and fascinating match.
"We will find a team that lost two-and-a-half days ago, they will want to play a great game at San Siro."
Inter lost the Derby della Madonnina 2-1 to Milan in September, but have since gone on to win seven of their eight games in all competitions.
Inzaghi's side are just ahead of Arsenal in the Champions League table, with both teams picking up seven points from their opening three games.
The two sides have only met previously in the 2003-04 Champions League – both games were away wins (Arsenal 0-3 Inter, Inter 1-5 Arsenal).
While history favours the visiting side, Inzaghi has said his side will try to dominate possession against Arsenal in order to remain unbeaten in the competition.
"If you see Arsenal among 100 teams, without knowing the name, you recognise them. They played for the last two English titles, point for point with Manchester City," he said.
"We will have to try to keep the ball as much as possible, we know that we are facing a team that put on a lot of offensive pressure.
"We know that it will be a problem for us when they have the ball but the opposite is also true."
Arsenal have also struggled in recent games in the Champions League in Italy, failing to find the back of the net in their last four away games in the country.
Emmanuel Adebayor was the last Gunners player to score there in a 2-0 win over Milan in March 2008, and Inter will be confident of keeping it that way.
Although only five teams have faced more shots in the Champions League this season than Inter (53), they have kept three clean sheets so far.
Neymar suffers fresh injury blow
Neymar sustained a new injury as he was forced off during Al-Hilal's AFC Champions League Elite win over Esteghlal.
Aleksandar Mitrovic plundered a hat-trick on Monday to seal a 3-0 win.
But Al-Hilal's victory was soured by an injury to Neymar, who had to make way just 29 minutes after he came on as a second-half substitute.
The Brazilian, who has just returned from over a year out of action following a serious knee injury, was forced off with what appeared to be a thigh issue.
Indeed, Monday's appearance was only the 32-year-old's second for Al-Hilal since his comeback.
He has featured just seven times for the Saudi Pro League champions in all competitions since his big-money move from Paris Saint-Germain in 2023.
Premier League MD10: Lucky winners and unlucky losers
We are now 10 games into the Premier League season and the table is beginning to take shape, but that does not mean there is no room for an upset or two.
On Saturday, both Manchester City and Arsenal fell to surprise defeats at Bournemouth and Newcastle United respectively.
It was only the third time since the start of 2017-18 that both of the previous season's top two teams had lost on the same day in the Premier League, after March 7, 2021 and January 14, 2023.
Pep Guardiola's champions could have few complaints about the result at the Vitality Stadium, where Andoni Iraola's Cherries won the expected goals (xG) battle by 2.04 to 1.56.
But which other games featured a lucky winner or an unlucky loser? We delve into the Opta data to find out.
Unlucky losers: Arsenal
The weekend's action began with Arsenal travelling to St James' Park to face Newcastle, with Mikel Arteta's side chasing a victory to move within a point of leaders Liverpool.
However, they succumbed to a 1-0 defeat as Alexander Isak's early goal proved enough for Newcastle to make it three wins in their last four home league games against Arsenal (one loss).
The Gunners could count themselves unlucky to come away from Tyneside with nothing, however, after limiting Newcastle to a measly 0.53 xG – 0.25 of which came from the chance for Isak's goal.
Only West Ham, who played half of their defeat to Nottingham Forest with 10 men, created a lower figure across the nine games to take place this weekend, with 0.13 xG.
Arsenal were far from their free-flowing best, though, only recording 10 attempts worth 1.05 xG themselves. They have averaged just 7.4 shots per game in their away Premier League matches this season, with only Brentford (7.5) taking fewer.
Lucky winners: Southampton
Just two teams – Wolves and Ipswich Town – remain without a victory in the Premier League after Southampton finally got off the mark by beating Everton 1-0 at St Mary's.
Russell Martin's team accumulated just 0.74 xG to Everton's 1.56, but Adam Armstrong's strike five minutes from time handed them a huge three points in their fight for safety.
While Beto, who headed against the crossbar just 25 seconds before Armstrong's winner, and Jack Harrison spurned great chances for the Toffees, Southampton were also grateful for a late VAR intervention, as the former saw a potential leveller chalked off for a marginal offside call.
It was the first time Everton had failed to score against Southampton in the Premier League since February 2022, bringing their five-match unbeaten run in the competition to a halt.
Unlucky losers: Crystal Palace
Southampton ended the weekend in 19th, above winless Wolves after they were pegged back in a 2-2 draw with Crystal Palace at Molineux.
Marc Guehi salvaged a draw for the Eagles, who were without star men Adam Wharton and Eberechi Eze yet arguably still did enough to leave the West Midlands with all three points.
They racked up 19 shots totalling 2.51 xG to their hosts' 11, which had a total value of 1.51 xG. Palace's xG figure was the highest in the Premier League this weekend, but they were missing their shooting boots as Ismaila Sarr squandered two glorious chances when they were a goal to the good in the second half.
With both defences struggling, this was only the second Premier League game of the season to be goalless at half-time but see both sides score at least twice in the second half, after Everton 2-3 Bournemouth in August.
There could have been a fifth goal in stoppage time, too, as Jean-Phillipe Mateta saw a potential winner disallowed for a foul on Jose Sa in the build-up. Wolves – and their under-fire head coach Gary O'Neil – arguably got away with one.
Lucky winners: Chelsea
Sunday's late game saw Chelsea fight back to draw 1-1 with Manchester United at Old Trafford, denying Ruud van Nistelrooy a first Premier League win as the Red Devils' interim head coach.
Moises Caicedo's well-taken volley cancelled out Bruno Fernandes' penalty and Chelsea arguably looked the more likely victors in the second half, but they only generated 1.1 xG from their 12 attempts – and just 0.29 from six after the interval.
United, meanwhile, had chances worth 1.98 xG, though Fernandes' spot-kick – with an xG value of 0.79 – was a major contributing factor.
Marcus Rashford and Alejandro Garnacho squandered decent opportunities for United, though, and incoming boss Ruben Amorim has plenty of work to do with their attackers.
United have scored just nine goals in 10 Premier League games this season – their worst record through 10 matches of any league campaign since 1973-74 (also nine).
Fans of a certain vintage will need no reminder of what happened at the end of that season – United were relegated from the First Division, their fate sealed by club legend Denis Law scoring against them with a nonchalant backheel, while representing rivals Man City.
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