Chelsea set out this summer with the primary goal of signing a big-name striker. Co-owners Todd Boehly and Clearlake Capital wanted the final transfer market of their four-window plan to deliver the missing piece of the puzzle, and that was supposed to be Napoli striker Victor Osimhen.
The saga dominated the summer transfer window as Chelsea, despite interest from both Paris Saint-Germain and Saudi Arabian side Al-Ahli, remained patient towards the end of the window in the hope of striking a bumper deal for Osimhen, only for things to come crashing down at the last minute.
Here, 90min reveals the inside story of one of the most perplexing transfer battles in recent memory.
When Osimhen signed his new Napoli contract in December 2023, interest from Chelsea and other clubs was already known.
A release clause of over €120m was inserted into the new deal and there was an agreement with Napoli president Aurelio De Laurentiis that he could move on this summer.
As the summer transfer window arrived, Napoli made their stance clear. They wanted to see Osimhen’s release clause triggered or matched in value, believing the 25-year-old was worth over €120m after scoring 51 goals across the previous two campaigns.
Arsenal were actually the first club to enquire just before the window opened, but were told this was the price and there was no flexibility.
PSG then made their first approach in July and wasted little time in agreeing personal terms with Osimhen, although the French side never saw a new striker as their biggest concern of the summer.
Deals for Joao Neves and Desire Doue took priority, before a verbal bid of over €70m was made for Osimhen.
Napoli continued to point to the release clause, although for the first time indicated some flexibility, insisting any deal for Osimhen would now have to be worth over €100m.
Such a price was still not acceptable to PSG, who withdrew their offer and moved on for good. Reports stated PSG considered returning for Osimhen on deadline day, but sources have confirmed to 90min the French side’s decision to walk away was final.
Then came Al Ahli. Their approach followed Al Hilal’s three contract proposals to Osimhen 12 months ago. This move was led by Saudi Pro League sporting director Michael Emenalo, who had no difficulties matching the striker’s financial demands.
But Osimhen’s agent, Roberto Calenda, went public with his reluctance to make the move stating his client had more to prove in Europe.
This was a bit misleading, given Osimhen was actually seriously entertaining Saudi at this point and that’s why talks continued all the way through to deadline day.
The bigger issue was Napoli saw Al Ahli were also trying for Ivan Toney, who they subsequently signed. Once they realised a £40m offer had been accepted by Brentford on deadline day, Napoli asked for a fixed fee of €80m, even though they had already verbally agreed to one at €68m.
Saudi dealmakers decided to walk away and complete the Toney transfer instead.
At this point, Napoli officials began to realise they were not going to receive the sort of money they had expected for Osimhen. PSG were not returning to the table, Al Ahli had moved on, and that only left Chelsea, who had spent the late part of the window trying to reach a deal.
Chelsea’s plan was to wait Napoli and Osimhen out, knowing the fee would drop or the structure become more preferable, and holding out in the hope the Nigerian striker would lower his wage.
Chelsea’s position was always clear: Osimhen had to fit into their wage structure.
Osimhen perhaps felt the possibility of a Saudi deal might make Chelsea up their wage proposal, but this wasn’t the case. Chelsea remained calm and clear a deal would only be done on their terms.
Chelsea were prepared to do a straight loan or, after the price dropped, one with an obligation to buy Osimhen permanently next summer.
But all their contract offers – and there were several – revolved around the premise of incentivised earnings.
After hours of last-ditch negotiations, Chelsea failed to reach an agreement. In fact, they didn’t even get a formal answer from Osimhen to their final proposal.
After the British transfer window closed, Napoli made it clear Osimhen he would never play for the club again. He was left out of their Serie A squad and it may even be that Romelu Lukaku takes his No.9 jersey in the long-run, although the Belgian striker, who joined from Chelsea for an initial €30m, has been given No.11 for now.
The dilemma facing Osimhen was clear. Either he sat on the sidelines in Naples until January, or he accepted a loan to a country where the transfer window was still open. Enter, Galatasaray…
Galatasaray reached an agreement quickly, which was in part driven by a desire to try and register Osimhen in time for their Europa League campaign.
The Turkish club will cover Osimhen’s €10m salary and have agreed to a break clause in January, which if triggered will see them receive some money. Interestingly, the deal was brokered via intermediary George Gardi rather than driven by Calenda himself.
Ahead of his impending loan, Napoli also sought to protect Osimhen’s value by extending his contract by 12 months. In exchange, an agreement was reached to lower his release clause to €75m, with a permanent exit in 2025 now on the cards.
Whether Chelsea reignite their interest in January remains to be seen since Osimhen’s wage demands will still be the same.
Nicolas Jackson has also extended his contract until 2033 after 17 goals last season and an impressive start to life under Enzo Maresca, while he retains the backing of the Chelsea hierarchy.
If Chelsea are free-scoring between now and January, they may not even need Osimhen.
What we know
- Osimhen did not end up at Chelsea or Al Ahli following summer transfer saga
- Napoli striker set to ink loan deal with Galatasaray with January break clause
- Inside the most dramatic transfer saga of the window.