‘Chelsea have thrown away £500m’ amid Cole Palmer claim
Chelsea have lost out on around £500m as they try and put together a squad which can challenge for the Premier League title.
Since Todd Boehly acquired control of the West London club in 2022, he has spent well over £1billion on new players.
The spending hasn’t slowed down this summer either, with the Blues bringing the likes of Liam Delap, Jamie Gittens, and Joao Pedro to Stamford Bridge.
Much of Chelsea’s financial outlay in this window has been negated by the prize money they received for winning the Club World Cup earlier this month, after beating PSG 3-0 in the final.
However, Everton’s former chief Keith Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – believes Enzo Maresca’s side could have made more cost-effective moves in the market over the last few years.
‘Chelsea have spent way more than needed’
Speaking on the new edition of Football Insider’s Inside Track podcast, Wyness insisted that since Boehly’s arrival, Chelsea have spent £500m more than they needed to, in order to get their squad in the place it is now.
Last season, Maresca’s side finished fourth in the Premier League, securing Champions League football for the upcoming campaign.
Wyness added that despite the money wasted, Chelsea are now in a position to challenge for the league title.
He told Football Insider‘s Inside Track podcast: “We all know they had this amazing Club World Cup situation and have made a lot of money from that, even though they’ve contributed into the UEFA coffers with their £30m fine.
“Still, I think the feel-good factor in the squad has got to be pretty good, and they no doubt see themselves challenging for the title next year.
“Chelsea have turned it round. That’s one thing where the Club World Cup has been really important for them, getting this momentum and belief back in the squad.
“The manager’s position is strengthened, the coffers have been strengthened, and everything’s moving positively for Chelsea. They’ve got a great squad, Cole Palmer’s back firing, everything seems to be working again.
“I’ve been as critical as anybody about the way they’ve gone about this. I still believe they’ve probably spent half a billion more than they needed to get to where they are right now, and that’s what I’m critical about.
“Nevertheless, if you’re spending that sort of money you’d hope to get something half decent, which is where they are right now, and I do expect them to be challenging next year.“
Chelsea fire sale intensifies
Meanwhile, Chelsea are launching a fire sale as they prepare to sell players before they sign more players, sources have told Football Insider.
The Blues are currently under UEFA sanctions, which require them to balance out their transfer outlay with player sales in order for them to register new signings for the Champions League next season.
Sources say that the West London side are aiming to offload some of their fringe players to raise funds and avoid further punishment.
If Chelsea can find buyers for enough of the unwanted members of their squad, then they could still go back into the transfer market to bolster their ranks further.
For more Chelsea and exclusive news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.