Despite BlueCo spending well over £1 billion on signings since taking over from Roman Abrahmovic in 2022, Chelsea are no closer to lifting major silverware, and former player Joe Cole believes the players are becoming increasingly frustrated as a result.
BlueCo, led by US billionaire Todd Boehly, have pumped huge sums into the player squad, including signing Enzo Fernandez for £106.8 million from Benfica and Moises Caicedo for a record £115 million from Brighton, but their transfer policy has some major holes in it.
Focusing mostly on young talent, Chelsea's sporting department have often prioritised potential over proven ability, and even when they haven't with the likes of Raheem Sterling, things haven't worked out.
Consistently poor performances and relentless injuries have seen many players benched into oblivion or look to find a way out of Stamford Bridge and Cole believes that's a pattern that will continue this summer.
Joe Cole issues worrying Cole Palmer prediction
Chelsea's recent exit from the Champions League following a disappointing performance against PSG sees their hopes pinned on finishing in the Premier League's top four and going the distance in the FA Cup.
And it hasn't just been on the pitch that Liam Rosenior has had problems. Enzo Fernandez cast his Chelsea future into doubt after admitting he could leave at the end of the season, and Cole, who spoke on The Dressing Room podcast, wonders if another big-named player could be tempted by a summer transfer.
"They’re frustrated. And you get into that position now, where the best players are going to start going…
If you’re Cole Palmer you’re thinking, 'I could go and play anywhere in the world. Like, what’s happening here?'
Do you know what I mean?"
The 23-year-old made the switch from Manchester City in 2023 and hit the ground running in London. This season has been a different story, though.
Suffering an unfortunate injury way back in September which ruled him out for two months, Palmer has struggled to get up to speed and, as a result, has failed to net double figures after 20 league games.
Speculation the attacking midfielder's time in London is coming to an end is rife with Manchester United — the club Palmer supported as a boy — heavily linked with making a move.
Palmer may have to risk forcing Chelsea exit
Regardless of how he feels, Palmer is tied into a contract until 2033, so Chelsea, who poached him for just £40 million, are very much in control of his future and will know any negotiations would see them pocket a mammoth profit.
Unlikely to just give into a rival club wanting to sign arguably their best attacking player, Chelsea will put the ball in their number 10's court knowing failure to successfully force a transfer could lead to a damaged reputation.
Palmer is currently away on international duty with England where he will hope to recapture some of his best form following what has so far been a disappointing campaign by his high standards.