Chelsea Transfers

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Chelsea’s January Transfer DealSheet: Raheem Sterling latest, could Tyrique George be tempted away?

https://www.nytimes.com/athletic/6905153/2025/12/26/Chelsea-transfer-dealsheet-january-latest/

Another transfer window is nearly upon us, so naturally, there will be a lot of interest in Chelsea’s business.

In January 2023, Chelsea spent well over £250million ($332m at current exchange rates) on six players, including signing Enzo Fernandez from Benfica.

They have been pretty quiet in the two January windows since then, so what do they have in mind this time?

The information found within this article has been gathered according to The Athletic’s sourcing guidelines. Sources with knowledge of transfer dealings, who asked to be kept anonymous to protect relationships, have been spoken to before offering the clubs involved the opportunity to comment.

Here’s The Athletic’s guide on what to expect.

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What is the manager’s priority?

It does not really work that way at Chelsea. Head coach Enzo Maresca is consulted on transfer plans, but the strategy is led by the sporting leadership team — although last summer’s recruitment drive was carried out in consultation and close coordination with the Italian.

Chelsea’s hierarchy have been happy with Maresca’s input and engagement in the market, so should they make any moves, the 45-year-old will be involved. Asking for specific targets, however, is a different matter.

An example of this came in the summer window, after centre-back Levi Colwill was ruled out for most, if not all, of the campaign with an anterior cruciate ligament (ACL) injury. Maresca requested that a new central defender be signed, but was told he had enough defenders to choose from to fill the void.

Enzo Maresca does not have a huge say in Chelsea’s transfer plansCarl Recine/Getty Images

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What positions will they be looking at in January?

Chelsea do not intend to be busy, and additions to the first-team squad are not expected.

The club are instead working with the summer in mind. They could still purchase a young player for the future and keep them at their current club in order to continue their development, or loan them elsewhere. This has been a regular practice for the west London club over the last few years.

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Which players do they want?

Chelsea are scouting a number of players in a variety of positions, although some of the names being looked at are with sister Ligue 1 club Strasbourg, who are owned by the same parent company, BlueCo, in mind.

Among the many young talents being monitored are Rennes centre-back Jeremy Jacquet and Saint-Etienne forward Djylian N’Guessan, but that is as far as interest in those players has gone.

Jeremy Jacquet is one of the young talents being monitoredJean Catuffe/Getty Images

Fans can forget about any reunion with veteran centre-back Thiago Silva following his departure from Fluminense — Porto announced his signing on a free transfer at the weekend. In any case, Chelsea have enough centre-backs, and he was never under consideration.

In terms of the positions they are concentrating on for the first team in the summer, central midfield has become a priority due to Romeo Lavia’s injury issues. The Belgium international has made just 30 appearances since joining from Southampton for £50million in August 2023.

Chelsea made an initial enquiry over Antoine Semenyo, but decided against pursuing a move.

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Who will they be looking to sell?

The biggest priorities are trying to resolve the futures of Axel Disasi and Raheem Sterling, who have been left out of the senior squad all season.

A Ligue 1 club have enquired about a loan for Disasi, but Chelsea prefer a domestic loan or a permanent sale.

Sterling’s situation requires greater consideration, as he is on a contract worth more than £300,000-a-week, which still has 18 months left to run. The 82-cap England international rejected a loan abroad in the summer, preferring the stability and security of a permanent move. The 31-year-old’s family live in London, and that remains a key consideration regarding any loan offers in particular.

The 19-year-old winger Tyrique George is subject to a lot of interest from Premier League clubs and Champions League teams in Europe. He came close to joining Fulham on deadline day last time out and could be lured away by a club offering more game time.

Sources speaking under the condition of anonymity to The Athletic to protect relationships say goalkeeper Filip Jorgensen wants a move to get more first-team football, but Chelsea do not want to change their options in that position.

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Will anyone move out on loan?

Chelsea have already used up their allocation of six international loan spots on Mike Penders, Mamadou Sarr, Kendry Paez (all at Strasbourg), Nicolas Jackson (Bayern Munich), Aaron Anselmino (Borussia Dortmund) and David Datro Fofana (Fatih Karagumruk). One of those loans will have to be cancelled for another player to go abroad instead. This is why Disasi being loaned out has been ruled out.

Chelsea are exploring options domestically for Brazil Under-20 international Deivid Washington. He has not played a senior game since being recalled from a loan at Santos in late August. The forward has made just three appearances for Chelsea since joining from Santos for €16million plus €4m in add-ons in August 2023.

Marc Guiu’s situation — he played three games on loan for Sunderland in August before being recalled prematurely — means the only club he could technically go on loan to is the north east side. However, Chelsea want to keep the 19-year-old striker for the rest of the campaign, despite the Spaniard remaining a fringe member under Maresca.

Chelsea want to keep Marc Guiu for the rest of the seasonEd Sykes/Getty Images

There could be movement for players in the Under-21s. Midfielder Sam Rak-Sakyi, who made his senior debut under Maresca last season, saw a move to a Ligue 2 side break down in the summer. Another loan will be explored in the new year.

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Do they need to sell to buy?

They do not, but given their large squad, any signings will be offset with sales — to fit another player in, one has to go. This was effectively demonstrated in the summer when they became the first Premier League club to make more than £300million from transfers in a window.

Chelsea are also relaxed about adhering to the UEFA punishment handed to them in July. UEFA issued a €31m fine for the club breaking their football earnings rule and squad cost rule. It could go up by another €60m if they fail to comply over the next four years.

UEFA’s squad cost ratio (the percentage of a club’s income spent on the first-team squad) is 70 per cent this season. For this season and next, Chelsea must maintain a positive transfer balance (the cost of players added must not exceed those being removed) for any new players to be registered for their squads in European competition.

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What is their PSR position?

There are no concerns over complying with profit and sustainability regulations in what is the final season of its use.

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What sort of budget do they have?

The majority of transfer funds and business are being saved for the summer, so do not expect Chelsea to be leading the spending charts next month. There will continue to be outgoings as well as incomings, so Chelsea’s net spend will remain in a good place.

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If they don’t make any signings, will they be able to achieve their goals this season?

They should do. Maresca still has a fine squad to work with, even if there may be the odd gap here and there.

Colwill’s absence and Lavia’s persistent injury issues do not help. Chelsea will also be under strain from January onwards as they will be competing on four fronts — the Premier League, Champions League, FA Cup and Carabao Cup.

The aim is to qualify for the Champions League again via a top four/five finish (depending on how many spots England secures), plus compete in the three cup competitions. Chelsea have shown they can do that so far with what they have.

By Simon Johnson

Chelsea Correspondent

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🔵Kendry Paez may not finish the season at Strasbourg. Paez cannot get in the rhythm of Ligue 1 matches and his lifestyle is not optimal.

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