Could it be, just maybe, that Todd Boehly and his gang of crazy American money men – collectively worth in the tens of billions of US dollars – knew what they were doing all along? Perhaps these masters of the universe who tend to win at most things in life actually aren’t total morons? Might it be, perhaps, that they know more about running a business – and football is, without doubt, a business these days – than a few pundits who have a handful of England caps, an FA Cup runners-up medal and a daytime radio show? And of course more than us, you, and all the many others who have spent much of the past two years since Boehly acquired Chelsea basically laughing at the club?
It is early days yet, in terms of this season and the shoots of recovery at the Blues, but there are certainly some indications that Chelsea are on the up. They headed into the October international break unbeaten in seven matches, winning five of the last six, and scoring freely. Indeed, their last five matches have brought 17 goals, whilst earlier in the season they hit Wolves for six.
At the time of writing, they find themselves fourth in the Premier League, going very well in the EFL Cup, and with their second string having won 4-2 in their only game thus far of the league phase of the Europa Conference League. But just how much should we read into all this? Is this a flash in the pan, or could the Blues actually land some silverware this term?
Europa Conference League There for the Taking
At this early stage of the season, the Blues could land a quadruple but we won’t be betting on it and we suspect even the staunchest of Chelsea fans will feel the same way. That said, with the FA Cup yet to begin, the Premier League just seven games in and the club going nicely in the EFL Cup and the Conference League, anything is possible.
We feel there is a great chance Chelsea will collect a trophy this term and the most likely is the Europa Conference League. This third-tier UEFA contest has been derided but it was easy to see what it meant to West Ham and their fans when they won it in 2023. It also grants access to the following season’s Europa League, although the Blues will hope to earn that at the very least via the Premier League.
Winning a trophy is an important step for a club, especially one with so many young players, and can spur them on to greater success. Moreover, the Blues are one of a very small number of clubs to have won all three of the “old” UEFA contests. With the now-defunct Cup Winners’ Cup in the bag, along with the Champions League and Europa League (they have won all three twice, as well as two European Super Cups), they could become the first club to win all four UEFA tournaments.
Indeed, given the Cup Winners’ Cup ceased to exist in 1999, and it is uncommon for major clubs to feature in the Conference League(!), should Chelsea land this one in 2025, they may set a record that lasts forever. History aside, the Blues are very big favourites to win the competition, despite naming very much a second-string squad for it, with Cole Palmer among the big names excluded.
After the first game, at home to Gent, the Blues are the clear favourites to lift the trophy, priced at 13/8. Next come Fiorentina at 6/1 and Real Betis at 8/1, with Heidenheim third at a distant 16/1. Heidenheim, by the way, first played in the German top flight in 2023/24, when they finished eighth to qualify for the Conference League. It has been estimated that Chelsea’s squad is worth £1.4bn, whilst the other 35 teams in the competition have a combined worth of £1.5bn. The Europa Conference League is very much there for the winning.
Could Chelsea Win a Domestic Cup too?
The Blues face a relatively tough last-16 tie in the League Cup, with a trip to Newcastle United scheduled for the 30th of October. Newcastle have not played brilliantly this term but have scraped decent results and these two teams will have broadly similar hopes this term – make the top four and win a trophy.
Even if Enzo Maresca’s men get through that, Liverpool, Brighton, Aston Villa, Man United, Arsenal, Spurs and Man City are all among the other teams still in the competition. One of the first two, and one of the last two listed, are sure to be eliminated, but even so, it will be a high-class quarter-final.
One thing very much in Chelsea’s favour, however, is their squad depth and the lack of stress on it. The other top sides cannot afford to rest their best players, as the Blues have with Palmer and others, for the big European games. This gives Maresca more scope to field stronger XIs and benches in the domestic cups than his rivals, and could well give his men the edge.
Chelsea are joint-third favourites for EFL Cup glory at 8/1, the same price as Liverpool, with only Man City (10/3) and Arsenal (5/1) shorter. The Blues have this same advantage in the FA Cup, which, of course, is yet to start as far as the Premier League teams are concerned. Even so, the Europa Conference League favourites are fourth favourites for that at 10/1 and clearly have a chance.
Too Early for a Realistic Tilt at the Title
At the international break, or more accurately, the second of three such breaks before Christmas, the Blues sit fourth, four points from the top. We can’t rule them out of winning the title, certainly if Palmer stays fit and Nicolas Jackson maintains his form. But this season is probably at least one campaign too soon for them to challenge a team as strong as Man City.
Things are looking good though, with Maresca fixing much that was wrong, doing a great job of keeping a big squad happy, and developing the young talent at his disposal very well. If Chelsea can finish fourth this season that would be a big step forward and the financial boost, plus the lure of Champions League football, could see their transfer strategy go into overdrive (or the overdrive of overdrive!). And then who knows, maybe 2025/26 could be the Blues’ season!