The Chelsea squad is in a state of flux, with 41 players on the books and just 25 days left in the transfer window. New manager Xabi Alonso is keen to reduce the squad significantly, with a number of players available for sale or on loan. The Blues have a history of having too many players, with a 'bomb squad' of players like Raheem Sterling and Axel Disasi last season. This practice has been outlawed by FIFA, making it even more crucial to drastically reduce the squad.
The club is bound by a UEFA settlement agreement for three more seasons, but they have made efforts to improve their finances. Chelsea is accustomed to this level of player trading, having built Alonso's squad through signings like Morgan Rogers, Marco Palestra, Danny Welbeck, Jordan Henderson, and Maxence Lacroix. However, the size of the squad is an issue that needs addressing.
On Wednesday, they had 21 substitutes for their 1-0 defeat by Juventus in Hong Kong, with just five being academy players. This highlights the need to reduce the squad to a more manageable size. The club is keen to carry a large squad into the final few days of their Asian tour, but it remains a remarkable number given the absence of key players due to injuries and the World Cup.
There are five players not even training with the first team: Benoit Badiashile, Axel Disasi, Marc Guiu, David Datro Fofana, and Caleb Wiley. They are all available either for permanent or loan moves. Seven players remain on holiday until next week, having featured in the latter stages of the World Cup. Defender Trevoh Chalobah is close to joining Como for £31m, while goalkeeper Filip Jorgensen is joining Strasbourg on loan.
The club is out of European football next season after finishing 10th, with Enzo Maresca leaving and Liam Rosenior dismissed. Alonso has some difficult decisions ahead, with his goalkeeping options set and full-back positions filled. However, the club has put a £75m price tag on Gusto, with Manchester City emerging as potential suitors.
At centre-back, Chelsea has nine players, and Alonso has said the group needs reducing to 'four or five'. Disasi and Badiashile are available for sale, while Mamadou Sarr is expected to depart on loan. In midfield, Chelsea has put a £120m price tag on Fernandez, who is exploring his options. In attack, the shock return of Mykhailo Mudryk is another situation the club must manage, with all options remaining open and his fitness being assessed.
The club has been stockpiling players for more than a decade, dating back to former owner Roman Abramovich's reign. Under Abramovich, they had as many as 42 players out on loan before FIFA introduced limits. Since Todd Boehly and Clearlake Capital took charge in 2022, Chelsea has acquired Strasbourg, adding to the growing number of multi-club ownership models across Europe. They have also embarked on a strategy of signing younger players on lower wages, who can be moved in and out as required.
However, Chelsea has the lowest revenues among the traditional 'big six' clubs, largely due to the size of Stamford Bridge, commercial underperformance, and a kit deal with Adidas that has not kept pace with rivals. Player trading makes up much of that shortfall, and the club is expected to make a similar number of sales this summer, with Chalobah's move to Como taking their total beyond £150m.
