What's the hold up?

Why hasn't Pochettino been announced yet?

Rumors of Mauricio Pochettino becoming the new USMNT manager entered the fan zeitgeist weeks ago. Players have been interviewed live and given answers with the understanding that Poch would be the next manager. There are no alarm bells coming from the most dedicated journalists about the deal falling through. So what’s the hold up?

Let’s talk through the potential hurdles US Soccer, Mauricio Pochettino, and Chelsea need to overcome to get this deal over the line.

For those of you who don’t know - when I’m not moonlighting as a soccer media mogul, by day I am a Certified Financial Planner®. One of the most interesting wrinkles in this hiring saga is undoubtedly the financial aspect. How does US Soccer afford Poch? How does Pochettino not take a life-changing paycut to take this role? And how does Chelsea get out of paying him an astronomical fee despite firing him many moons ago?

Finding the balance of all three is likely what has taken so long. All parties seem to want this to happen, but who pays what portion and what Pochettino is going to be happy with are all up in the air.

Let’s start with US Soccer’s dilemna.

US Soccer's Perspective

What They Want:
US Soccer wants to secure a high-profile coach like Mauricio Pochettino to lead the national team. His experience with top clubs and ability to build competitive teams is precisely what the USMNT needs ahead of major tournaments like the 2026 World Cup. However, hiring a coach of his caliber means negotiating a salary that’s higher than what they’ve paid previous coaches, but still within their budget.

What They Need to Do:

• Negotiate a Competitive Salary: They need to offer Pochettino a salary that is attractive but not breaking their historical pay structures. This salary will not cover what he was making at Chelsea, but it needs to be high enough to show that they value his expertise.

• Collaborate with Chelsea: Since Chelsea still owes Pochettino severance payments under his previous contract, US Soccer needs to align with Chelsea on what Pochettino’s total compensation package will look like. This means crafting a deal where Pochettino’s combined pay from US Soccer and Chelsea is satisfactory enough for him to take the job.

• Make the Job Appealing Beyond Money: They’ll have to emphasize the non-financial benefits of the role—like the chance to coach on the international stage, the unique challenge of leading a World Cup host nation, and the freedom to shape the national team’s future.

Mauricio Pochettino's Perspective

What He Wants:
Pochettino wants to coach again, and the USMNT job represents an exciting opportunity. However, he doesn’t want to take a significant financial hit compared to what Chelsea owes him under his termination agreement.

What He Needs to Do:

• Ensure Financial Security: Pochettino needs to ensure that his total earnings from US Soccer and Chelsea will be close to what he would have received if he remained unemployed. He’ll likely negotiate hard to maintain a level of compensation that reflects his market value.

• Balance Ambition with Compensation: Pochettino has to weigh the professional appeal of leading a national team with his financial expectations. He’s looking for a win-win scenario: a job that excites him and compensation that respects his worth.

• Push Chelsea for a Fair Settlement: He’ll need to leverage his position to ensure Chelsea pays enough to cover the gap between US Soccer’s offer and what he’s still owed, making the switch financially viable.

Chelsea's Perspective

What They Want:
Chelsea wants to reduce their financial obligations to Pochettino under his previous contract. By taking the USMNT job, Pochettino would forfeit some of the money Chelsea still owes him, lessening the burden on the club.

What They Need to Do:

• Negotiate a Reduced Payout: Chelsea needs to find a way to pay Pochettino less than what they would owe him if he stayed unemployed, making his switch to the USMNT financially sensible for both sides.

• Facilitate the Transition: They must work with Pochettino and US Soccer to come to an arrangement that allows all parties to feel satisfied. For Chelsea, it’s about finding a number that’s lower than his full severance but still high enough to encourage Pochettino to move on.

• Strategize to Minimize Losses: By paying him an “unemployment fee” that bridges the gap, Chelsea can avoid the full financial penalty of their severance agreement while also showing goodwill in resolving the matter amicably.

The Bottom Line

To get this deal done, all three parties must navigate the complex intersection of financial negotiations, professional ambition, and contractual obligations. US Soccer needs to stretch its budget within reason, Pochettino needs to ensure he’s compensated fairly, and Chelsea needs to limit its financial exposure. The result? A high-stakes game of negotiation where all sides can win, but only if they find the right balance.

What’s next?

The last bit here to consider is timing. Even if this deal gets done, there’s not really a ‘natural’ moment to introduce him as manager. It has already been decided September’s friendlies against Canada and New Zealand will have the squad coached by U-20 coach Mikey Varas.

A potential moment to introduce Pochettino would be during these matches, but the question would then be asked why he’s not on the touchline. It has been weeks since the worst kept secret was released and fans will want to have him take over as soon as humanly possible.

Welcome Pochettino! (probably)