Stefan Borson, a former financial adviser for Manchester City, says that Chelsea’s wage bill is “very high.” His point of view goes against the idea that the Blues’ contracts with lots of incentives kept base pay low.
Chelsea’s recent results have led to bonuses. Earlier this summer, the club won the extended FIFA Club World Cup. Before that, in May 2025, they won the UEFA Europa Conference League. They also finished fourth in the Premier League and qualified for the Champions League for the 2025/26 season.
The Blues’ gross salaries for 2025/26 will be around £165 million, with Raheem Sterling being one of the highest-paid players. Speaking about their wage bill, Borson said:
“It’s my favourite subject this one. We hear a lot about Chelsea being unique in their approach, where they have highly incentivised contracts. I can tell you every single football club, including those in League Two, have highly incentivised contracts. It is a perfectly typical way of doing things.”
He continued:
“And in any event, if Chelsea have highly incentivised contracts, well, they’re currently paying very high wages because the club won the Club World Cup, qualified for the Champions League and has had a level of success, which would have then triggered all of these incentivisations that people said is so unique.
“I think you’ll find that the wage bill is very high.”
Many have said that the club paid its players low base wages. Notably, the Blues paid a £5 million exit fee to avoid a £25 million obligation because they couldn’t agree on terms with Jadon Sancho. Situations like that have led to the view that the players’ wages are not astronomical, in comparison to other top players in the league.
Stefan Borson Discusses Moises Caicedo’s Salary at Chelsea
Stefan Borson believes Moises Caicedo’s salary at Chelsea is already among the highest in the Premier League. His opinion follows the midfielder’s £115 million transfer from Brighton in August 2023, which set a new British transfer record.
Under Enzo Maresca, who took over in July 2024, Caicedo has become a key starter and has had good numbers for winning and passing the ball this season. Borson said:
“I think the idea that Caicedo signed for Chelsea in a competitive situation for £115m and was paid a wage anything other than at the very high end of Premier League wages is completely unbelievable.
“I think he’s very well paid right now and maybe better paid because he’s performing very well in a highly successful team right now. He may well get an increase, but he’s already on a lot of money, and it’s really as simple as that.”