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Four years into BlueCo’s ambitious project at Stamford Bridge, Chelsea have splashed out nearly £1.9 billion ($2.5bn) on new players. However, this lavish spending, combined with an inconsistent transfer strategy, has resulted in several major disappointments. Despite a few success stories such as Cole Palmer and Moises Caicedo, the list of expensive flops is long.

Now, Alejandro Garnacho joins that unenviable list. The club is reportedly ready to part ways with the winger just a year after signing him from Manchester United in what was always a risky £40 million ($50m) deal.

The Argentine has failed to report for pre-season training while Chelsea search for a buyer willing to meet their £43-45m ($58-$60m) valuation. Realistically, the club will struggle to recover even close to that figure, given that Garnacho’s debut season at Stamford Bridge was entirely forgettable.

Garnacho thus becomes the latest in a string of disappointing signings approved by co-owners Todd Boehly and Behdad Eghbali under the BlueCo regime. Here’s a look at the top 10 most underwhelming acquisitions of this era, ranked in descending order:

10. Carney Chukwuemeka

There were plenty of contenders for this list, but Carney Chukwuemeka edges in due to his spell at Chelsea being almost non-existent. The midfielder arrived amid high expectations from Aston Villa in 2022 for £20m after inspiring England’s Under-19 team to European Championship glory. Yet injuries and being overlooked meant his career never took off, making just 32 appearances in two and a half years before moving to Borussia Dortmund last summer following an initial loan.

9. Christopher Nkunku

When Chelsea secured Christopher Nkunku from RB Leipzig for £52m in 2023, it was seen as a statement signing. The Frenchman had been prolific in the Bundesliga and was expected to lead the Blues’ attack for years. Unfortunately, a serious knee injury in pre-season derailed his progress. He missed half of the 2023-24 campaign and never truly found form after returning. By 2024-25, Nkunku was merely a supporting player as Cole Palmer emerged as the attacking star. He was sold to AC Milan after making just 27 Premier League appearances.

8. Alejandro Garnacho

The decision to sign Alejandro Garnacho from Manchester United for £40m raised eyebrows across the Premier League. Having fallen out of favour under Ruben Amorim, Chelsea hoped to revive his career. Instead, the move turned out to be a costly misstep. Garnacho lacked the confidence and flair that once made him a standout at Old Trafford. He failed to cement a place under either Enzo Maresca or Liam Rosenior, delivering several forgettable performances on the left wing. The club is now reportedly ready to offload him, though recouping their £43-£45m asking price seems unlikely.

7. Pierre-Emerick Aubameyang

Signed from Barcelona in the summer of 2022 at Thomas Tuchel’s request, Pierre-Emerick Aubameyang’s Chelsea stint was doomed almost instantly when Tuchel was sacked the day after his debut. The striker never fit into Graham Potter’s plans and was eventually frozen out before departing on a free transfer to Marseille. His single season yielded only 21 appearances and three goals, marking a disappointing end to his brief spell in blue.

6. Kalidou Koulibaly

Kalidou Koulibaly arrived in 2022 to much fanfare, expected to solidify Chelsea’s defence after a stellar career at Napoli. However, the Senegalese defender’s time in London lasted just one turbulent season. Frequent managerial changes and several costly errors saw him fall short of expectations. The Blues sold him to Saudi club Al-Hilal the following summer, making him one of the early big-name players to move to the Gulf region.

5. Raheem Sterling

Raheem Sterling’s £47.5m move from Manchester City was intended as a marquee signing to kick off the BlueCo era. A proven Premier League star and serial title-winner, Sterling was expected to bring goals and leadership. Instead, his time at Chelsea fizzled out. After two underwhelming campaigns, he was banished to Enzo Maresca’s ‘bomb squad’ and loaned to Arsenal for the 2024-25 season. Upon returning, he remained out of favour and eventually had his contract terminated in January 2026, 18 months after his last appearance for the Blues.

4. Joao Felix

Joao Felix’s Chelsea journey is one the club would surely like to forget. Initially loaned from Atletico Madrid in January 2023 amid a massive spending spree, Felix’s red card on debut against Fulham was an ominous sign. Despite a modest contribution, Chelsea bizarrely brought him back in 2024 after a decent spell at Barcelona. His second stint lasted only half a season under Maresca before being loaned to AC Milan and later sold permanently to Al-Nassr in 2025.

3. Facundo Buonanotte

Argentine midfielder Facundo Buonanotte’s Chelsea career was as brief as it was uneventful. Signed on loan from Brighton late in the 2025 summer transfer window, he was meant to add midfield depth under Maresca. Instead, he made just eight appearances—only one in the Premier League—before his loan was terminated in January. An equally uninspiring half-season at Leeds followed.

2. Deivid Washington

Few fans would recognise Deivid Washington, but the Brazilian forward remains on Chelsea’s books despite making only three senior appearances since joining from Santos for £17m in 2023. Mostly confined to the development squad, he even returned to Santos on loan in 2025 but failed to impress. Now 21, the once highly-rated striker looks set to leave permanently in search of first-team football elsewhere.

1. Mykhailo Mudryk

Mykhailo Mudryk’s Chelsea story is one of the most unfortunate in recent memory. Signed for £89m from Shakhtar Donetsk in January 2023, the Ukrainian’s arrival promised excitement but delivered disappointment. Struggling to maintain confidence and consistency, Mudryk drifted in and out of the team under multiple managers before being suspended in November 2024 for a doping offence. In April 2026, he was handed a four-year ban by the Football Association. Although he has appealed and hopes to return in 2026-27, it seems improbable that he will ever wear Chelsea blue again.