chelseaits approach to transfer expenditures will need to be evaluated over a period of time, Premier League general manager Richard Masters said.

The Blues spent around £323m on new players and around £90m on striker Mykhailo Mudryk.

Their total expenditure was almost £100m more than the other four big leagues in Europe combined.

At the Financial Times Football Business Summit, Masters was asked if this spending indicates that the financial barriers have been lifted.

“I’m not here to defend (Chelsea). Less than a year, the new owners of the club have had two transfer periods. You have to evaluate the football club after 3-4 years,” he said.

“They would probably argue that they have a different transfer policy than the previous regime. Players have longer contracts, lower salaries. And of course a test that covers a period of 12 months within our rules.

“The question is, are they going to sell some of their players in the next window? I don’t know the answer to that question either, and I’m not going to defend them either, but you have to judge them in a while.”

Masters also defended the length of the league’s investigation into alleged breaches of financial regulations by Manchester City.

The club was accused of violating more than 100 league rules in February.

“The investigation took four years,” Masters said. People claim it’s a long time, and they’re absolutely right, it’s a long time.

“Frankly, I cannot say anything about the case itself. What people want is a regulatory system that is very clear, open and transparent, and corrective action is taken immediately when rules are violated.

“But there’s also the country’s laws – people can object to, all sorts of things. Of course you want a fast, efficient regulatory system. It doesn’t always work that way. That doesn’t mean regulation doesn’t work.”