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Chelsea Mikel

‘£125m sitting in the bank’ — Mikel blasts Chelsea transfer failure

Chelsea legend John Obi Mikel has criticised the club for failing to replace Enzo Fernández after the Argentine midfielder’s £125 million move to Manchester City, insisting the decision is now hurting Xabi Alonso’s side.

Fernández left Chelsea for Manchester City on deadline day, but the Blues were unable to secure a replacement after their attempt to sign Monaco midfielder Lamine Camara collapsed.

Mikel believes Chelsea should have reinvested part of the substantial transfer fee in another midfielder, particularly with Moisés Caicedo having been restricted to just 14 minutes this season because of a calf injury. 

“We are missing Moises Caicedo. When we get him back, I think we will be a much, much more solid team,” Mikel said on the Obi One Podcast. 

The former Nigeria international argued that Chelsea’s failure to strengthen the position has left Alonso without sufficient defensive protection in midfield.

“That is one position that the club has failed to strengthen during the transfer window. We failed. We knew Enzo Fernandez wanted to leave the football club. We knew for so long he wanted to go,” Mikel said. 

He added: “Yes, we got £125m sitting in the bank, but we failed to bring in another player and that’s why we are suffering right now.”

Mikel believes the defensive problems cannot be blamed entirely on Chelsea’s back four, stressing that Alonso’s system requires strong protection from midfield.

“We talk about leaking goals. Yes, we can blame the defence, but you need at least two holding players to be able to shield and protect the back-four in that system. You need that because you’re going to be exposed,” he said. 

Chelsea have scored 18 goals but conceded 12 across their opening six matches in all competitions, including a damaging 2-2 home draw against newly promoted Hull City. 

Mikel believes Caicedo’s return could significantly improve the balance of Alonso’s team, given the Ecuadorian’s ability to cover ground, break up attacks and protect the defence.

“As soon as he comes back, I think we’ll be a much better team. There’s absolutely no question about it,” the Chelsea icon said. 

The Nigerian also highlighted Caicedo’s ability to cover multiple positions, suggesting that his return could ease the pressure on Chelsea’s defence and provide Alonso with greater tactical flexibility.

Chelsea will now hope Caicedo can return to full fitness as Alonso seeks to address the defensive weaknesses that have emerged during the early weeks of his tenure.

For Mikel, however, the underlying issue remains Chelsea’s failure to use the £125 million Fernández windfall to bring in an adequate replacement.