Chelsea's financial model 'in jeopardy' as Xabi Alonso faced with 'dangerous' situation

Xabi Alonso is already in an incredibly difficult position after Chelsea failed to secure European football in the 2025-26 campaign.

That is according to former Everton chief executive Keith Wyness, speaking exclusively to Football Insider, who believes that the Blues will feel a "big blow financially" after finishing 10th in the Premier League.

Facing Sunderland on the final day of the season, many hoped that Calum McFarlane would lead Chelsea to the Europa League, but a 2-1 defeat at the Stadium of Light completely changed the club's trajectory.

Chelsea are likely to miss out on millions in revenue, but given the current state of the club, Alonso might be counting his lucky stars that he only has the Premier League to worry about next season.

Chelsea to be hit by financial blow after disappointing 2025-26 season

Everton’s former chief Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – is concerned about the Blues' financial situation.

Speaking on the new edition of Football Insider‘s Inside Track podcast, Wyness said: “It's a big, big blow financially for Chelsea, given the way that they have built this financial model.

"This means that if anything goes wrong, like not qualifying for Europe, that really puts the whole financial model into jeopardy. But Xabi Alonso has yet to put his mark on the club.

"He's got to manage those owners, and he's really got to be firm and tell them, 'This is what's going to happen'. They haven't listened before; they think they know what they're doing, but it's been proven that they don't.

"Xabi is clever enough and has the presence and the ability to command the dressing room and get them behind him. So I think he will be in a very, very strong position because these owners are going to need him to turn this club around.

"I could go through all the numbers, but it's a big impact on Chelsea, and it's a very dangerous one for them. They'd better just quieten down and try to let Xabi get on with it."

How much could Chelsea miss out on with no European football?

Some supporters were content with the Blues missing out on Europa Conference League football, given that money might have been lost from playing in the smaller competition.

Speaking to Football Insider, Stefan Borson revealed that Chelsea were likely to lose upwards of £100million by missing out on the Champions League, and now the Blues have no European football.

That is a lot of money for just one season's failings, but the impacts from poor results can be catastrophic in football, as the likes of West Ham United and Leicester City have learned this term.

Only domestic football will certainly provide a good platform for Alonso to build on in his first season in England as a manager, but it could have further impacts at Stamford Bridge down the road.