It all looks "very shabby" and "very manipulative".
But they are acting perfectly within those rules and have been “smart” off the pitch.
That is the verdict of football finance expert Kieran Maguire as BlueCo club Strasbourg prepare to welcome Enciso from Albion.
The Paraguay international will head to France for a deal believed to be worth a little less than £20 million.
Expectations are that he will later be sold to Chelsea – but it is unlikely that would be for the sort of huge fee which would see the Seagulls cash-in via a sell-on clause.
Maguire has highlighted that, for PSR purposes, Strasbourg cannot sell for a profit to a club under the same ownership.
If Enciso can twist and turn as well as the Stamford Bridge outfit appear to have done off the pitch, he should be a big success.
The move will give him playing time in the French top tier and possibly in Thursday night European competition, although the latter is under some threat.
Liam Rosenior’s side were held 0-0 at home to Brondby in the first leg of their play-off so might not make it through to the Conference League group stage.
But Enciso appears bound for Alsace and, to paraphrase the famous Chelsea club song, it effectively seems that BlueCo is the buyer.
Maguire said: “I think it shows the weakness of the UEFA rules that Chelsea can effectively park a player who they probably would have signed and put out on loan to Strasbourg.
“It has not cost them anything from their UEFA squad cost control rules, which they have to do quite a bit work on before the end of the window, otherwise they will be in breach of their business plan.
“Yes, it looks very shabby, it looks very manipulative but it has to be stressed it is perfectly within the rules.
“If people have got a beef, it should be with the people who are writing the rules rather than with Chelsea, who are simply employing very smart accountants to show what a mockery they are.”
Enciso has appeared a likely departure all summer with several teams being speculatively linked with his services.
The fee for which he is departing is nothing like what might have been envisaged in the wake of his memorable goals against Chelsea and Manchester City a little more than two years ago.
Fabian Hurzeler has spoken positively about his working relationship with the now 21-year-old who has had to deal with celebrity status back home for pretty much his whole career.
But something obviously was not clicking.
Largely but not entirely due to injury, he has slipped down the Albion pecking order, be it playing off the frontman, wide to the left or even as a false nine.
His path with the national team has not always been smooth either but he is clearly a passionate player and head coach Gustavo Alfaro has indulged him to a degree.
He has played an intermittent but valuable part in taking the Albirroja to the brink of World Cup qualification.
Enciso missed training ahead of a recent qualifier because he rushed off to get married.
And he has flown to Buenos Aires during the summer for knee surgery.
While there does not seem great outcry over losing Enciso among Albion fans, the nature of his sale seems unsatisfactory.
David Ornstein of The Athletic termed it as Enciso being sold to BlueCo, rather than a specific football club.
🚨 EXCL: BlueCo reach agreement with Brighton & Hove Albion to sign Julio Enciso. Personal terms in place with 21yo #BHAFC midfielder & Paraguay int’l expected to initially spend time at Strasbourg but viewed as long-term Chelsea player @TheAthleticFC #CFC https://t.co/hQE2G1yJ1n
— David Ornstein (@David_Ornstein) August 20, 2025
A post from Fabrizio Romano depicted Enciso in a shirt which was half Strasbourg, half Chelsea.
Paul Winstanley and Sam Jewell are key recruiters at Stamford Bridge who know Enciso well and will see him as worthy of investment - especially now, when his stock has fallen.
A good year at Strasbourg and then some highlight moments in the World Cup could leave him looking like one who got away for the Seagulls.
The layman's question then would be how could Chelsea sign him from Strasbourg for less than £20 million and for it to be fair market value?
Maguire said: "Calculating fair market value is almost impossible as players are trophy assets and there is no market price as such.
"He would be quoted at less than £20 million for UEFA purposes so might as well sell him for that."
Maguire said he would be surprised if Albion banked much of a sell-on at that stage but added: "Tony Bloom and Paul Barber would have known that."
Chelsea cannot loan Enciso to Strasbourg now as they have already hit the FIFA limit of three such deals.
They are also struggling to meet the terms of a business plan imposed by UEFA.
Maguire added: “UEFA have said that, because Chelsea broke cost control rules last year, as well as paying a fine, when it comes to this summer’s window, they have got to make sure that sales exceed payments.
“Chelsea are already in a negative position so they need to shift some players.
“If they signed Enciso now to bring him into their first-team squad, they would have to include that fee. That makes it too difficult.
“What will happen in all probability, and it is impossible to prove this, is that he will go to Strasbourg on a long contract, he will get to play in France and, if he is as good as Chelsea think he is, and many Brighton fans do as well, in one year or two years’ time, Strasbourg will sell him.
“For PSR purposes, they are not allowed to make any profit on a sale as part of a multi-club ownership deal.
“Therefore Chelsea could potentially pick him up for a relatively low fee.
“Chelsea don’t incur a cost or a problem now as far as their UEFA position is concerned.
“And Strasbourg get a chance to blood a player who, on his day, is unstoppable.”