On Tuesday, Cole Palmer shared some wise words with his Chelsea teammates: in a final, “anything can happen.”
He emphasized that it doesn’t matter who you’re playing or where the game is held — the unpredictability is what makes finals special.
Still, when you consider the huge financial gap between Chelsea and their opponents Real Betis, the odds seem heavily in Chelsea’s favor.
If they win, Chelsea would make history as the first team to claim all four major European club trophies.
Plus, it would mark Todd Boehly’s first silverware since he took over ownership, following an eye-watering £1.2 billion spent on transfers in the last three years.
Chelsea’s Billion-Pound Machine vs. Betis’ Underdog Spirit
Chelsea’s journey in the Conference League has been smooth, largely because they’ve been playing against smaller clubs from countries like Sweden, Poland, and Armenia.
But the final on Wednesday is a different challenge — facing a Betis squad cobbled together by Manuel Pellegrini, costing just £84.5 million in total.
To put it into perspective, Chelsea’s squad has cost a staggering £1.39 billion to build — making them the most expensive team in European football history, according to UEFA.
In their recent game against Nottingham Forest, Chelsea fielded a midfield duo costing £222.8 million alone.
Meanwhile, Betis’ entire starting lineup in their last game against Valencia was valued at just £28.2 million.
Chelsea’s Big Money Signings
Under Boehly’s reign, Chelsea have splashed out on stars like Enzo Fernandez (£107.8m), Moises Caicedo (£115m), Wesley Fofana (£70m), and Mykhailo Mudryk (£88m).
Other players like Romeo Lavia, Christopher Nkunku, and Pedro Neto each cost over £50 million.
In contrast, Betis have been far more conservative.
Over the past two transfer windows, they’ve spent only £34.3 million on 12 players, including two on loan.
Their highest-priced player is William Carvalho at £15.5 million.
Payroll and Salaries: Two Worlds Apart
When it comes to wages, the difference remains huge.
Betis’ annual payroll is about £44.5 million, with an average weekly salary of roughly £35,600 per player.
Chelsea, on the other hand, shell out nearly £170 million a year, with stars like Reece James earning £250,000 per week and Wesley Fofana on £200,000 weekly.
Chelsea’s squad-building has been about high spending and high expectations, while Betis rely on savvy acquisitions and rebuilding careers.
Betis’ Gems and Pellegrini’s Magic
Betis’ star player is Manchester United loanee Antony, who has impressed so much that club legend Joaquin joked they’d have to “kidnap” him to keep him next season.
Antony has already made his mark with four goals and three assists in the Conference League this year.
But Antony is not the only player who’s found a new lease on life at Betis under Pellegrini. Former Real Madrid midfielder Isco called Betis “my light in the darkness” after joining following six months without a club.
Giovani Lo Celso bounced back from a tough spell at Tottenham after joining Betis for just £8.4 million.
Pablo Fornals also joined from West Ham for a modest £6.8 million.
Pellegrini’s Betis: A Club on the Rise
Pellegrini arrived at Betis after just one season at West Ham and quickly delivered success by winning the Copa del Rey in 2023 — the club’s first trophy in 17 years.
This season, they beat local rivals Sevilla for the first time in seven years and are now on the verge of their first European title.
Despite these achievements, Betis haven’t overspent.
Pellegrini admitted in late 2023 that the club’s financial situation limited their transfer activity but praised what they have achieved.
He’s confident the team can keep growing once they stabilize financially.
Betis’ Financial Reality
Betis took out a £105 million loan last year from Goldman Sachs to improve their stadium, including plans for a new roof, but they still face strict LaLiga salary regulations.
Remarkably, their record transfer fee remains the £21.5 million they paid for Denilson back in 1998 — which was a world record at the time.
Today, their most expensive current player is Carvalho, highlighting the club’s cautious spending approach.
Different Ownership, Different Worlds
The ownership structures couldn’t be more different.
Chelsea, owned by Todd Boehly and Clearlake Capital, have faced increasing fan protests this season, as supporters grow frustrated with the club’s direction.
Boehly, however, shrugged off the criticism as “par for the course.”
Meanwhile, Betis is largely owned by its fans, who hold about 55% of the club, alongside local businessmen Angel Haro Garcia and Jose Miguel Lopez Catalan.
This community connection gives Betis a unique feel compared to Chelsea’s corporate model.
A Brief History and What’s Next
The two clubs have met four times before, with Betis winning the last encounter 1-0 in a Champions League match back in 2005.
Chelsea, meanwhile, can be sure they will return to the Champions League next season regardless of the final’s outcome.
But what all Chelsea fans want is a first trophy in four years — a chance for the billion-pound squad to finally start paying off those huge investments.
Will this be the moment Chelsea’s costly gamble begins to pay dividends?