A Billion at Work: Chelsea Have Gone from a Meme to Genuine Contenders for the Champions League and Premier League

For more than a year Chelsea were mocked for “spending a billion dollars for nothing.” But slowly, almost quietly, the project has started to click. Todd Boehly’s long-term strategy — stacking the squad with young talent on lengthy contracts — is finally paying off. After winning both the FIFA Club World Cup and the UEFA Conference League last season, Chelsea have now picked up nine wins in their last 11 games. The Blues aren’t just second in the Premier League — they look like a real contender for major European trophies.

Their statement performance came in the Champions League: a dominant 3–0 win over Barcelona, where Chelsea controlled the match from start to finish. Even before Barça went down to ten men, Chelsea had already scored three disallowed goals. According to the Opta Supercomputer, their chances of winning the Champions League have now risen to 5.5% — something unthinkable just a few weeks ago.

Youth development is at the core of this resurgence. Chelsea are fielding the youngest starting XI in both the Premier League (24 years, 169 days) and the Champions League. Many of the young investments are finally delivering: Pedro Neto (25), Alejandro Garnacho (21), and Liam Delap (22) are all taking major steps forward. The club’s record-breaking midfield duo — Enzo Fernández and Moisés Caicedo — are starting to look genuinely world-class. Caicedo, in particular, is making a case as the best ball-winner in football right now.

Instability is inevitable with such a young squad, but Chelsea have forced themselves into the Premier League title race. Following a comfortable 2–0 win over Burnley, they’ve overtaken Liverpool in the Opta projections, which now give them a 5.1% chance of winning the league. That’s twice Liverpool’s probability — though still half of Manchester City’s. And the imminent return of Cole Palmer, who has missed most of the season through injury, should strengthen the team even further, though it raises the question of who makes way for him in the current XI.

Their next league match against Arsenal will be a major test of how far this team can go domestically. But in the Champions League, the path looks even more realistic. Chelsea don’t need to be the best team in Europe to win it — just as they weren’t in either 2012 or 2021. What they do need is the ability to beat anyone in a one-off game, and they’ve already shown they can do exactly that.

One thing is clear: writing off this “young” Chelsea is no longer an option.

Published by Patrick Jane
03.12.2025