Chelsea is in the headlines again for the football transfer season. The English club reported this past week that, in order to compensate for the eight signings throughout the current window, it had to sell 11 players, amassing €251 million in revenue. The last release came in the form that of Renato Veiga, for whom Villarreal paid €26 million.
It could not quite finish there. The biggest contract was that of Noni Madueke, the 23-year-old striker, for whom Chelsea mustered up €56 million after selling to Arsenal. The total sum, however, comes with a troubling element: Chelsea shelled out €277 million in reinforcing, recovered 90% of that, but still closed the window as far in the red as ever. With 12 days remaining until the transfer period is closed, those figures could swell. The question is whether that is a ruse or another installment of the Blues’ irresponsible spending spree.
Math behind the exit doors
Official confirmations present a club that is working hard but hard-pressed. Aside from Renato Veiga and Madueke, there are other big names that departed from Stamford Bridge. João Félix signed a contract with Al-Nassr for €30 million. Goalkeeper Djordje Petrovic transferred to Bournemouth in exchange for €28.9 million, while Lesley Ugochukwu departed for Burnley for €28.7 million. Kiernan Dewsbury-Hall signed for Everton for €28.65 million, and Armando Broja finalized his transfer for Burnley for €23 million.
Strasbourg signed a contract for Mathis Amougou for €14.5 million, Bashir Humphreys signed for Burnley for €14 million, and Kepa Arrizabalaga signed for Arsenal for €5.8 million. Saving the best for last, Manchester City signed Marcus Bettinelli for €2.4 million. Overall, those transfers are made up of starters, prospects, and veterans. What is unusual is the motive for it all: make space, draw revenue, and make space for the incoming signings by keeping the team slim. You add up the number, though, Chelsea's big-tag policy is in effect as much as ever.
Unfettered expenditure
The €277 million worth of reinforcements that were spent is proof that Chelsea still has the reputation of a club that doesn't look at the bill before signing. The €26 million deficit may be peanuts when compared to the billions that flow through Stamford Bridge, but it's a tendency.
The club spends in bulk, sells in bulk, but collects more than it spends. And it's not new. A September 2024 CIES Football Observatory report had Chelsea already become the club that had spent the most in the past decade. Yes, it are giant figures, but most of all, it's that spend mentality that has become Chelsea's DNA.