The promise of a better tomorrow at Chelsea divides opinion. While some predict disaster, others look on with fascination. Speaking to an analyst at a Premier League club last week, the feedback was glowing when the conversation turned to Chelsea beating Manchester United to the £44m signing of Sporting’s 17-year-old winger Geovany Quenda. Good players are heading to Stamford Bridge. The question is less whether Chelsea have an eye for talent, more whether they can put the pieces of the puzzle together.
They are not deviating from their chosen path. There is a sense that Chelsea, aware of the mockery about all the seven-year contracts, are waiting for the moment when they can silence the critics. They have faith their process will come off.
Quenda, who will remain at Sporting next season on loan, has been called up by Portugal. Dário Essugo, a combative 20-year-old midfielder due to join from Sporting for £18.4m at the end of the season, was coveted by other English teams. Andrey Santos, the 20-year-old Brazilian midfielder, has been exceptional on loan at Strasbourg this season. Estêvão and Kendry Páez, two of the best youngsters in South America, are on the way.
Chelsea, whose summer will be complicated by their money-spinning involvement in the Club World Cup, are on the front foot. They want their business done quickly and are targeting key positions. A new striker is a must – Ipswich’s Liam Delap and RB Leipzig’s Benjamin Sesko are prominent targets – and there is firm interest in the Bournemouth centre-back Dean Huijsen.
This could turn into a team of superstars. An underlying tension is whether supporters are willing to wait. Talk of a brighter future is all well and good, but what about today? It is three years since the Todd Boehly-Clearlake Capital takeover and this has been another uncertain season on and off the pitch. Champions League qualification remains achievable but is far from guaranteed. Enzo Maresca will be under pressure if his first campaign ends with Chelsea yet to rejoin Europe’s elite.
It does not always seem like the most stable of environments. The player trading is relentless. Spotting potential is one thing but honing it and ensuring that youngsters can learn from experienced professionals is a different challenge.
The boardroom, meanwhile, remains a suspicious place. One theory is that Boehly was forming an exit strategy when he used an interview with Bloomberg last month to suggest that divisions over stadium redevelopment could lead to a split in his uneasy relationship with Clearlake. Talks over leaving Stamford Bridge and moving to Earl’s Court have continued but a consensus is not in the offing. Clearlake, the club’s majority shareholder, is exploring all options. Others want action. The risk is that Chelsea run out of time to secure the Earl’s Court site. A deal could become more politically and financially challenging if the Earl’s Court Development Company’s plan for the land receives planning approval later this year.
Whatever happens will have a significant impact on Chelsea’s long-term prospects. Stamford Bridge’s capacity of 40,343 is too small. An expanded multi-use stadium is imperative if Chelsea are to increase their revenue and continue to compete with their rivals.
Questions around money have perplexed financial commentators during the Boehly and Clearlake era. There has been a drive to lower the wage bill but more than £1bn has been spent on signings. Huge losses have been offset by finding loopholes in the Premier League’s profitability and sustainability rules. This week it emerged that selling their women’s team to themselves had helped Chelsea comply with PSR. Accounts released on Friday night indicated that the sale was worth £200m, with a realised profit of £199m.
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A reckoning could still be on the way given that that inter-group sales are not permitted under Uefa’s financial fair play rules. There is no room to relax. Insiders talk of Chelsea needing Champions League football. The hope is that they generated momentum for the run-in when they regained fourth place thanks to their dominant 1-0 win over Tottenham on Thursday.
It was good for Maresca to show that he can adapt his tactics. The Italian’s patient, positional football has drawn criticism for lacking excitement and being predictable in recent months, but Chelsea were much better against Spurs. Playing with more aggression and tenacity did not jeopardise their structure and their willingness to hit more direct balls proved effective against Ange Postecoglou’s high line.
Has a corner been turned? The return of Nicolas Jackson and Noni Madueke from injury will lift the attack. The former remains raw in front of goal but his movement is vital and creates space for Cole Palmer, who hinted at a return to form by creating Enzo Fernández’s goal against Spurs. But tougher tests are on the way. Chelsea will have to be physically strong when they visit Brentford on Sunday. The fixture list is awkward. Fighting off the competition for a place in the top five will take character and maturity. There is an exciting long-term vision at Chelsea. They just have to make sure not to lose sight of the present.
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