Chelsea market values: Behind only Man City and Arsenal despite €16.2m drop

Chelsea’s abysmal 2023 has extended over the last few months and their overall market has dropped by €16.2million in the latest Transfermarkt update. Only Manchester United’s squad valuation has dropped more than Chelsea but, remarkably, their squad remains the third most valuable in the English Premier League at €982.8m, behind just Manchester City and Arsenal. Their ranking is predominantly down to their squad and their massive investment in the transfer market across recent windows. Chelsea spent €467.8m in the summer, more than €200m more than any other club, although they recouped €269.4m in player sales. Chelsea also spent €611.49 during the 2022/23 season and their total expenditure of €742.03m across the last three windows is more than double second biggest spenders Manchester United.

Despite the appointment of Mauricio Pochettino, Chelsea have struggled badly in the league despite having no European commitments but they did reach the League Cup semi-final after a penalty shoot-out win over Newcastle. The Stamford Bridge side sit 10th in the table, twelve points behind Manchester City in the final Champions League place. While six Chelsea players have increased in value in the latest update, 11 have dropped and we’ve analysed the biggest winners and losers.

Chelsea's top five market value increases

Levi Colwill’s value has soared by €13m to €55m after establishing himself as a first-team regular. The 20-year-old impressed on loan at Brighton last season as he proved to be ready to play in the top-flight of English football. Colwill has made 20 appearances for Chelsea this season and he was also handed his international debut in October to reaffirm his reputation as one of the best young centre-backs in the world.

Cole Palmer decided to leave Manchester City in the summer in search of regular first-team football and he’s been rewarded after an excellent start to his Chelsea career with his valuation increasing by €13m. The 21-year-old has contributed an impressive 11 goal contributions in 17 games for Chelsea and he also scored for Manchester City as they clinched the Super Cup. Palmer made his England debut against Malta in November and he’s in contention for a place in Gareth Southgate’s Euro 2024 squad.

Conor Gallagher is trusted by Pocheettinho and his valuation has increased by €2m. Gallagher has made 20 appearances for Chelsea, captaining the side regularly due to Reece James’ injury issues. The 23-year-old provides energy in midfield and he’s also a regular in England squads with 11 international caps to his name.

Axel Disasi has started 19 of Chelsea’s 22 games this season since his €45m arrival from Monaco in the summer. The powerful centre-back is also on the fringes of the France squad and his valuation has increased by €2m.

Robert Sanchez started every game for Chelsea since joining from Brighton until he missed the weekend win over Sheffield United. The 26-year-old has been a solid performer, keeping five clean sheets and his valuation has increased to €30m.

Chelsea's top five market value decreases 

Wesley Fofana has missed the entirety of the season through injury and his valuation has plummeted by €8m. The 22-year-old joined Chelsea from Leicester for €80.4m in August 2022 but injuries have plagued his spell at Stamford Bridge and the centre-back has only made 20 appearances for the Blues.

Noni Madueke has failed to nail down a starting place, making only eight appearances this season with his valuation dropping by €5. The 21-year-old possesses undoubted talent but his lack of gametime has led to reports that he could exit in January in a loan deal.

Benoit Badiashile arrived from Monaco in January for €40m but he’s been troubled by fitness issues this season. Badiashile has only made five appearances, but he has started Cheslea’s last two games and he will be aiming to showcase why he was rated so highly across the remainder of the campaign.

Mykhaylo Mudryk's arrival from Shakhtar in January for €70m was viewed as a major coup with Arsenal also interested but he’s flattered to deceive. Mudryk has provided five goal contributions in 17 appearances this season but he needs to improve considerably to repay Chelsea’s investment despite being a regular under Pochettino.

Reece James ability is unquestionable but his inability to maintain fitness has led to his valuation falling by €5m to €50m. James was handed the Chelseas captaincy in the summer but he’s only made nine appearances and he now faces surgery to solve a hamstring injury.

Chelsea are third most valuable squad in English Premier League

Despite underperforming again this season, Chelsea’s valuation remains the third highest in the Premier League and it’s increased by €136.3m from December 2022. The rationale behind this surprise jump is due to their investment in the transfer market, as explained previously. Chelsea’s overall squad valuation remained pretty consistent between December 2019 (€842.75m) and December 2022 (€846.6m) - as displayed on the graph above. Chelsea’s transfer strategy has appeared disorganised but they’ve targeted talented younger players, who should grow in value - if they can improve their performances.