Chelsea has become a club that seems to understand the cost of everything but struggles to grasp true value. This disconnect is evident as the team drifts toward missing out on Champions League qualification, led by a head coach who appears unprepared for the challenge.

Their recent 3-0 loss at Everton leaves them just a point behind fifth-placed Liverpool in the race for the final Champions League spot. Given the Premier League’s strong position in UEFA’s coefficient rankings, an extra place is almost guaranteed, but this defeat wasn't an isolated incident. It marks Chelsea’s fourth defeat in a row across all competitions, with three consecutive matches without scoring. Among these struggles was a brutal 8-2 defeat to Paris Saint-Germain in the Champions League round of 16.

Liam Rosenior stepped in as head coach after leaving Strasbourg in January, replacing Enzo Maresca. Yet under Rosenior, Chelsea have won only three of their last twelve matches. This poor streak has largely gone unnoticed amid various other distractions around the club.

Off the pitch, Chelsea faced a Premier League-record fine of £10.75 million and a suspended transfer ban related to past illicit payments under Roman Abramovich’s ownership. Meanwhile, Rosenior’s own awkward and sometimes puzzling remarks have done little to calm nerves.

For example, handing Alejandro Garnacho a tactical note with only five minutes left to overcome a six-goal deficit against PSG struck many as desperate. Similarly, defending players’ decision to crowd around the ball and referee Paul Tierney before their 1-0 home loss to Newcastle, a show of “respect for the ball", seemed tone-deaf.

Amid these distractions, it's easy to overlook how the team is actually performing. Currently, Chelsea resembles an unbalanced, inexperienced side, managed by someone thrust into a role he isn’t yet equipped to handle. Rosenior has a six-year contract, but that hasn’t shielded him from criticism from a dissatisfied fanbase. Still, blaming him alone would be unfair.

He represents more of a symptom than the root cause of the club’s deeper issues. His presence reflects the philosophy of new ownership, Clearlake Capital and Todd Boehly’s BlueCo, who seem to mix heavy spending in certain areas with tight controls in others.

Chelsea’s squad is packed with forwards, often brought in at inflated prices, while critical positions like goalkeeper and head coach receive less investment. Take last summer’s recruitment spree: Jamie Gittens arrived from Borussia Dortmund for around £48.5 million; two months later, Manchester United’s Alejandro Garnacho joined for £40 million; and earlier, Estêvão, just 18 years old, came from Palmeiras for an initial £29 million. These are promising young wingers, sure, and wingers are needed. But while chasing these forward prospects, the club bypassed a reliable, experienced goalkeeper like AC Milan’s Mike Maignan, considering his £21 million fee too steep.

In consequence, Chelsea started the season with Robert Sánchez and Filip Jørgensen competing between the sticks, yet neither has proven dependable. Both have made costly errors recently. Rosenior dropped Sánchez in favour of Jørgensen against PSG, but the Danish keeper’s mistakes contributed to goals. Then Sánchez was back for the Everton game and also faltered.

So, despite pouring nearly £2 billion into players since Clearlake and BlueCo took over in May 2022, Chelsea still lacks a solid goalkeeper. But they do have plenty of wingers.

Rosenior inherits this flawed setup and is trying to manage with the cards he’s dealt. He still has talented players like Cole Palmer, Moisés Caicedo, and João Pedro at his disposal, but his appointment highlights Chelsea’s ongoing failure to appreciate experience and proven quality.

Within football circles, Rosenior is seen as bright and intelligent. Wayne Rooney praised him during their time together at Derby County. However, he was sacked by Hull City in May 2024 after narrowly missing out on a playoff spot, coming off a season near the bottom of the table.

Despite his potential, the jump from Strasbourg to Chelsea proved too large. Stamford Bridge’s management thrust him into a role he isn’t prepared for.

At Chelsea, coaches often become just one piece in a complex structure with upper management and multiple sporting directors calling the shots. This model only works if the coach is given real freedom to lead.

A club of Chelsea’s stature demands more from its head coach than tactical skill alone. They need someone who can command the room and handle intense scrutiny from fans and media alike. Every word, every action matters. Rosenior, like his predecessor Maresca, has repeatedly misspoke – an understandable flaw given his inexperience, but damaging nonetheless.

Managing teams like Hull or Strasbourg doesn’t prepare you for Chelsea, where the pressure is immense. Abramovich’s era valued high-profile managers with big personalities and records: Mourinho, Ancelotti, Conte, and Tuchel. The current approach seems quite different. The focus is on flashy young forwards with potential, while cutting corners on goalkeepers and coaches.

Rosenior is the embodiment of this two-tier strategy, and both he and the team are paying the price.

Liam Rosenior is currently engaged in thorough discussions with Chelsea’s leadership about their plans for the summer transfer window. Interestingly, none of the players has approached him expressing a desire to leave.

After Chelsea’s exit from the Champions League last-16 against Paris Saint-Germain, speculation swirled around Enzo Fernandez’s future, while names like Cole Palmer and Moises Caicedo have also been linked with moves away since Rosenior took charge in January. Ahead of their trip to Everton, Rosenior addressed questions about possible departures if the team misses out on Europe’s top competition again. He also spoke about the ongoing efforts to bring new players in.

“We're having very detailed talks about where we need to strengthen,” he said, referring to conversations with the sporting director team, headed by Paul Winstanley and Laurence Stewart. “I’ve shared my thoughts on what’s needed, and we’re mostly aligned on the approach, which is encouraging. But the priority is also handling the present properly. It’s crucial to be in a good spot now. Planning is important, but so is winning in the moment. That’s why I’m here, and I’m having positive discussions with ownership and the sporting directors about it.”

Rosenior emphasised that key players like Enzo Fernández want to remain at Chelsea. After Fernandez’s recent interview with ESPN Argentina, where he was noncommittal about his future following the heavy loss to PSG, Rosenior reached out to him personally.

“Our plans don’t hinge solely on qualifying for the Champions League; there are many variables,” Rosenior explained. “We need to make the best of the situation we’re in and stay as strong as possible. I maintain a close relationship with the players; we talk beyond football about their families and their lives. I’m particularly close with Enzo and the others. Since I arrived, no one has told me they want to leave in the summer. The focus is really on improving together as a team and figuring out what it takes to win right now.”

When asked specifically if that applies to Fernandez, Palmer, and Caicedo, Rosenior was clear: “They love it here.”