Chelsea Banter 3

04 Sep 2026 07:57:40
My memory isn’t what it was but didn’t our owners buy the club from RA/government for £4.25bn in total. Of that, £1.75bn was held in escrow for the stadium, women's football, the academy and I think Kingsmeadow.

So, I assume we still have £1.75bn ish still in an escrow account?

04 Sep 2026 09:05:30
Hi Guys, not to worry about the above post. I have found what I was looking for, like any normal person would, by searching online.

03 Sep 2026 19:35:47
Interesting article on The Athletic titled ‘What is Enzo Fernandez’s legacy at Chelsea?’

For me, on the pitch, he doesn’t have one. His legacy is one of money, a legacy of deadline day drama.

The first player in history to be bought for over £100m and sold for a profit. On the pitch, just part of some pretty disappointing times at the club, which won’t be remembered fondly.

03 Sep 2026 20:33:05
I rated him as a player, but with about 10/12 games of last to go for me, it was goodbye. My feelings are, Fernandez who?

04 Sep 2026 08:57:19
Decent player, but no Frank Lampard.

04 Sep 2026 09:44:25
I've never been a big fan of his and have often asked the question - what is his best position?
My worst memory is the Carling Cup Final versus Liverpool's B team, a game in which he should have stood up but instead was bossed by Endo. (I think it was him?)

Like Tomb, I'm glad he's gone and the soap opera surrounding him is over.

04 Sep 2026 11:25:30
I don't know if any of you saw George Benson's podcast interview with John Terry that featured quite a lot of discussion about Enzo Fernandez. JT really rated him both as a player and a 'warrior', who he thought gave 100% plus when playing for us, unlike perhaps several other players last season. I believe it was Greenaway who said that he was a favourite among away fans in this respect. I could see why, and tend to agree with JT.

JT believed EF was, in his words, a 'winner'. Having been watching the Mourinho documentary on Netflix the last couple of nights, I understand what JT is getting at, and that Mourinho would probably have loved EF for this! I think JT also quite liked him personally.

The fact is that most of us fans obviously don't like the way he has left us, and probably want to believe that he will be no great loss. Like Tom, I didn't want him to leave cos I rated him as a player and indeed as a warrior with a Mourinho-like will to win.

So, I think he was one of our best players when with us, but he has now gone, and we all hope he can be replaced by an even better player and/or one that can suit Alonso's system better.



I also am hoping, as am sure most of us are, that Alonso, who of course played under Mourinho at Real Madrid, did so well in his playing career and, as a manager in the Bundesliga, will bring a winner mentality to all in our squad. What the JM doccie suggests is that JM's superpower was just this, and helps explain how he won so many major trophies, including with unfancied teams like Porto or Inter, or even in resuscitating Real Madrid against Barca dominance in La Liga, before that relationship went sour. Oh, and of course he did win the league with us again in his second stint before that relationship went sour.

So, I would say that EF has a winner's mentality and was getting better with us the longer he stayed. I think he gave his best more than most for most matches with us. But he has now defected to be with the other treacherous Enzo, so his CFC legacy is tainted by the way he departed.

04 Sep 2026 11:54:21
I bet JT did like him personally.... Birds of a very specific feather flock together, spring to mind.

04 Sep 2026 12:07:41
JBS, I found the Jose documentary intriguing/interesting. What a totally focused and somewhat complex individual Jose is.

JT can say he likes EF as a warrior, but let me ask you this: after watching the Jose documentary, do you think Jose would have picked EF for any game after his "I want to leave" comments with 10/12 games of a season to go? Also, remember he was, in effect, our vice captain.


If I remember correctly, Jose refused to speak to JT when he was injured. That's when JT showed he was a playing warrior.

04 Sep 2026 13:36:30
Good point, Tome, and one well taken by me, so thanks for it about when Jose likely, in fact certainly you'd think, had turned against EF. As he did even with Casillas at Real Madrid, when he thought he was too friendly with Barca players!

Yes, JM is an extraordinarily focused and complex person, capable of humour, affection (care for player families etc), and inspiration for his players - so many testifying to this - but also of what can be seen as ruthless nastiness to get what he wanted, eg in that JT incident.

Then there is that moment when, leaving Inter to further his ambitions by managing Real Madrid, he breaks into uncontrollable tears when hugging an Inter player goodbye after their ECL final win.

The doccie reminded me of how much goes on behind the scenes with staff and players at clubs that we have no idea about. And, simply, that complex humans are involved who we think we know by seeing them so much on tv, yet we don't know the half of it/them.

03 Sep 2026 13:46:36
Back from Spain and was out last night with some mates, a section of whom are Gooners.
Their attitude to our game against them was broadly the same, “Why are we bothering turning up?”
I think it will be tough for us to get anything from the game but I would like to think we will cause them significant problems.

04 Sep 2026 11:29:02
Tom, I think most pundits would have us losing the game on Sunday, and it's hard to think that we could get a result. I do remember that game when we were three down there by half-time under Conte, who then changed the formation at half-time and, with wing-backs, won us the EPL that year.



So, my bottom line is that we go there and at least perform well. Even if we lose, Alonso can learn from the game and win us the EPL! Well, or at very least, get us ECL qualification.

04 Sep 2026 13:04:26
Understandably, Arsenal are favourites to win the title and beat us on Sunday. They are very effective and well organised. That said, they are nothing special. If we get a grip on midfield and organise our defensive unit, there is no reason why we shouldn't come away with something (says me nervously).

03 Sep 2026 10:22:16
{Ed's Note - Ed001 has posted a new video entitled entitled, C U Next Time - Transfer Window Edition}

03 Sep 2026 07:39:15
{Ed's Note - thefutureisoldgold3 has posted a new article entitled, Wolves Ratings at West Ham: Defence Below Standard

02 Sep 2026 21:40:40
MONACO HAD €55M. THEY CHOSE TO GAMBLE. CHELSEA HAD A REASON TO DO THE SAME — BUT DIDN'T.

What Monaco did with Camara is difficult to defend, not only as football business, but as a matter of principle.

Chelsea had agreed a €55m deal with Monaco.

Camara had completed his medical. His contract had been agreed. The paperwork was virtually finished. Everything was moving towards completion.

Then Everton came back for Folarin Balogun.

Monaco decided they preferred the possibility of selling Balogun instead.

That decision, by itself, is understandable. Circumstances change. Clubs are entitled to reconsider their options.

But Monaco then made the extraordinary decision to abandon the virtually completed €55m Camara deal to pursue the alternative.

They apparently wouldn't even agree to an extension deal sheet.

In business terms, Monaco looked at a deal worth €55m that was almost sitting in the bank and said:

"Let's cancel this and see if we can get something better. "

Then the other deal collapsed.

€55m became €0.

That is some deadline-day accounting.

But there is another side to this story that deserves attention.

Chelsea had just experienced exactly the kind of situation that can test a club's principles.

Manchester City had agreed a huge deal for Enzo Fernández.

Chelsea could have looked at the chaos surrounding the Camara situation and said:

"Fine. If agreements can suddenly become meaningless on deadline day, why should ours? "

They had reasons to be difficult.

They had every reason to be frustrated.

They could have tried to reopen the conversation, changed their position or used the circumstances to their advantage.

They didn't.

Chelsea honoured their agreement with Manchester City.

And that is the part I find interesting.

Chelsea did exactly what Monaco should have done.

They recognised that an agreement is worth something, especially when circumstances become difficult.

It is easy to honour your word when everything is going perfectly.

The real test comes when something better appears on the table.

Monaco had a €55m agreement and a new possibility.

Chelsea had an agreement with City and plenty of reasons to be tempted by the chaos around them.

One chose to gamble.

The other chose to honour its word.

Football is obviously a business. But business without trust becomes very difficult very quickly.

You can negotiate hard. You can change your plans before an agreement is reached. You can decide not to sell a player.

But once you have taken another party all the way through the process, there is something to be said for keeping your word.

Chelsea deserve credit for that.

Not because they had no reason to reconsider.

They had reasons. They simply chose integrity over convenience.

03 Sep 2026 10:09:33
AI summary of what happened? Anyway, I agree with it.

03 Sep 2026 10:09:54
Nice post. In my opinion, just about spot on.

03 Sep 2026 20:39:08
Using AI to write posts on a football blog for you - honestly, what's the point.

03 Sep 2026 21:43:07
I personally couldn't care less if AI helped generate a post. To my mind, it clarified the events and that is fine with me.

It's not an exam, it's just a bit of fun and banter.

04 Sep 2026 17:19:04
Between humans, Tom.

02 Sep 2026 21:37:01
At the start of this window I guessed/hoped we would raise over £400m in player sales. With the Maresca money and loan fees, I was hoping that we get over £450m in player/manager fees.

I wouldn't have a clue how to find out how we now stand in the net spend table over the last five seasons. Anyone got any ideas or answers?

03 Sep 2026 08:22:22
Tom, according to one site, our net spend in the last 5 years is just over £600 million. Man U, Arsenal and Spurs have a higher net spend, and Liverpool's is about £40 million less than ours.

03 Sep 2026 10:12:18
Thanks Jimbo, I would have thought after the last window we would be lower in the net spend table.

03 Sep 2026 12:47:24
Tom, figures vary from different sources, but it is comparative of where we are compared to other clubs.

02 Sep 2026 18:55:20
Nizaar Kinsella reporting that Chelsea spent £328m on improving the squad and made £519m worth of players sales (with loan fees) which is a global world record.

That's a net profit of £120m while retaining the sixth most valuable squad in the world.

The club hint at reinvestment in transfer windows to come having had a window that improves their financial picture whilst engineering a better squad for Xabi Alonso.

Many of the loan fees are undisclosed but known to be sizeable in some cases.

Quite astonishing figures and revolving doors and once again putting the "blown billions" theory in the proverbial bin.

Well done Blue. co.

02 Sep 2026 21:32:09
Unfortunately, Greeny, a couple of injuries and we'll have Jordan Henderson starting games of football.

02 Sep 2026 22:00:10
Very interesting Kaz that both you and our old friend Standard both call me Greeny? I think you have been found out but in all honesty it doesn't matter as it is just a name and all that counts is the wonderful banter on this page thanks to our ED's. Peace bro.

03 Sep 2026 11:31:28
K, do we know if the Maresca fee is included in the £519m.

It would appear we have now slipped to 6th in the nett spend table over the last ten years. I'm not sure if that is a good or bad thing. Even the spuds have a net spend figure bigger than ours over that period.

03 Sep 2026 18:08:20
Not sure, Tom, but either way, remarkable amounts of profit made, and it makes me laugh how some pundits, and indeed punters, like to use words like "blown billions" when, in fact, it is actually a case of turning a profit on many, if not most, of the purchases.

02 Sep 2026 11:51:48
What a sorry circus. Chelsea fuming at Monaco, Everton and Monaco both fuming at Balogun, presumably (Everton have Barry as their only striker now!). Liverpool apparently stuck their oar in, calling Monaco when the original Balogun deal fell through on the medical to say they'd buy Camara in 2027 if Monaco didn't sell to Chelsea now.

I wonder if we'll go back in Jan or if that's shutters for Camara? He looks like a player that would click in our midfield – seems to have a full picture of the pitch and a Canon of a shot.

I'd certainly Leica player like that. (Sorry, just using up all the puns I woke up with in my head this morning.)

On another note, Fofana's two planes is one of the funniest transfer-window shenanigans since Odemwingie.

02 Sep 2026 15:02:59
I hope we would try again in January, EdW, as I also think he would be excellent for our midfield and in an Alonso system. But Monaco may well want to keep him the whole season and have Liverpool bidding against us for him then.

One can but hope, though, that Monaco may have some sense of guilt, not just about what they did to us but to the player, and that there could be a chance of getting him then.

02 Sep 2026 07:59:28
What a mini saga the Camara and Balogun deals ended up being, with Monaco ending up with egg on their face.

In Fernandez, yes we've lost a starter and haven't replaced him with a genuine starter. But, we signed him for £100m and has he, at any point in his time with us, actually looked like a £100m midfielder? I think he's looked good, but not that good. City left it to the last minute in the hope of getting money off, threatening to walk away from the deal, whilst we stood firm. In the end they had to pay a British record fee and we couldn't turn that down.

I do feel like people are sleeping on Barco and how good he can be, he now has until at least January to get his mins up and show what he can do. I'm also not as low on James in midfield as some are, especially as we haven't seen much / any of him alongside Caicedo this season, in this system.

02 Sep 2026 10:47:55
J, I always enjoy your posts and thanks for them. Losing Fernandez without replacing him with quality was the problem. He, together with Cucurella and Joao Pedro, were surely our top 3 players last year, and two have left, and both could tackle and defend - even if EF, not very pacey, read the game quite well - and provide quite a few critical goals and assists. I had hoped we would get a replacement who could perhaps particularly offer defensive awareness and tackling strength. Camara's stats and physicality v impressive in these respects - and a bit of a Kante feel to him perhaps - and would have been hugely helpful, particularly as neither Rogers nor Palmer offer much defensively, and we need a very solid double pivot behind them to win the ball and keep some possession.

Kone very strong too in midfield. Either would have strengthened our strength in depth in the CM position, offering a lot both in defense and transition to our potent front three.

But yes, I did think Barco v Luton demonstrated a bit of what we need in this respect, though perhaps not quite the tackling strength, and he was dispossessed a couple of times. He may well be our best bet to fill in if one or other of Lavia or Caicedo not fit. James a better bet than Gusto. Yes, and possibility of planning to get in a reinforcement in January.

02 Sep 2026 11:04:51
Cucurella was definitely one of our better players, but where would he play in this system? I don't see him as either a WB or wide CB in a three. If Palestra plays LWB, there's an argument that he's an upgrade in this system over Cucurella. Some would argue that, as a WB, Pep Chavarria is an upgrade too.

Same with Fernandez, from a CM point of view he's at his best in a three. His lack of mobility is highlighted when playing the double pivot. He was at his best for us in a more advanced, inside left role, from which he picked up the important goals.

In that regard, you could almost consider Rogers as a replacement - personally I'd take that, especially as Rogers cost less than Fernandez.

We've upgraded at GK, CB, WB, AM, and Joao Pedro's ST support cast is much better. Yes, we need to find a top tier CM to partner Caicedo in the double pivot, but that shouldn't take the shine off a very positive window, at least not too much. We were never going to be the finished article after one window.

02 Sep 2026 11:40:19
You make some very good points, J, and I much look forward to seeing Palestra in the EPL as a wing back.

Do you/we know when he is likely to be fit?

One question to you is, who beyond Lavia and Caicedo - not sure when he will be fit, and we know Lavia's injury history, and Henderson not fit either - apart from Barco and James among our squad, who would you have play in that double pivot if, say, James has a recurrence of injury problems too? Would there be a CB who could do this if needs be in an emergency? If so, which one? Josh? Or...?

02 Sep 2026 12:08:26
Hato would probably be my first choice if I didn't want to bring a youth team option. One thing I don't want to see again is Gusto there.

02 Sep 2026 12:44:06
Would agree on all counts.