Chelsea have spent big but glass seems half empty as transfer window closes

At almost exactly the moment Timo Werner was slotting in his hat-trick goal for RB Leipzig, Chelsea, who sold the striker last month, were throwing away a lead at Southampton.

Unfortunate coincidences like Tuesday’s tend to stalk the London club, a place where footballers move in and out frequently with a tendency to up their form after departing Stamford Bridge.

The list is long and notorious. It’s ten years this summer since Kevin de Bruyne was first shipped off the premises. It’s nine seasons since Mohamed Salah was signed, only to be marginalised and then let go.

Chelsea may not suffer the same enduring regret over Werner even if, two seasons on from joining Chelsea from Leipzig, he has made his return journey to east Germany look like a ticket to immediate contentment.

Werner has four goals from four matches since rejoining his former employer, although, admittedly, Tuesday’s three within 24 first-half minutes were in an 8-0 Cup win over fourth-tier Teutonia Ottensen.

Werner may come to miss the cut-and-thrust of the Premier League in time, although he will be relieved not to be part of the finger-pointing at Chelsea that starts with the manager Thomas Tuchel.

After Chelsea conceded a lead for the third time in five Premier League matches, losing 2-1 at Southampton, Tuchel repeatedly called the performance “soft”. He told the players, via a fiery post-match briefing after the second defeat of the short campaign so far: “Just toughen up. It’s too easy to push us off track.”

Yet plenty of hard cash has been invested by owners who only bought the club in May, a sanctions-driven purchase because of previous boss Roman Abramovich’s perceived links to Russia’s government.

By the close of Thursday's transfer window, Chelsea may well end up showing the biggest overall spend of a summer market in which the Premier League will have set new records for total outgoing transfer fees.

Wesley Fofana was on Wednesday confirmed as another new Chelsea player, his £70 million move from Leicester City making him the fourth costliest defender in the game’s history and taking the club’s overall close-season spending over £250m.

Yet, over a turbulent summer, Chelsea have also been a soft touch. In the limbo between ownerships, Antonio Rudiger let his contract expire and joined European champions Real Madrid.

Andreas Christensen, another central defender, also left for free, to join Barcelona, who have been shaking up the market more than any club outside England and criss-crossing Chelsea’s path more often than Tuchel would have liked.

One of the preferred targets to fill the gaps left by Rudiger and Christensen’s departures had been Jules Kounde, but he chose to leave Sevilla for Camp Nou rather than for Stamford Bridge.

Marcos Alonso, the experienced left-back, was meanwhile being courted by Barca and, after a long saga of a proposed deal, is preparing to end his six-year stay in London to join Barcelona, where his father played in the 1980s.

150 summer transfers

Barcelona also chased Cesar Azpilicueta, the Chelsea captain finally committing to stay in London. Chelsea have been in advanced talks over Barca’s Pierre-Emerick Aubameyang and sounded out the Catalan club, where the transfer turnover has been hectic, about Frenkie de Jong.

The Aubameyang option found favour with Tuchel, who coached the striker at Borussia Dortmund, and with the player himself. But a deal has been complicated by factors including the length of contract – Aubameyang is 33 – the fee and whether or not a loan deal could be brokered, with Barcelona anxious to reduce their salary bill.

On Monday night, there was also a terrifying incident in Aubameyang’s family home just outside Barcelona. Burglars, apparently armed, broke in, threatening the player and his wife while their children were in the house. Aubameyang reportedly suffered a facial injury, which, quite apart from the shocking experience, will keep him out of action for several weeks.

Having sold Werner for less than half the €53m they paid for him in 2020, and loaned Lukaku back to Internazionale, from whom he was signed for almost €100m in 2021, Tuchel wants attacking reinforcements beyond Raheem Sterling, who signed from Manchester City in July and whose three goals so far are the only ones scored by a Chelsea forward this season.

“Raheem is just one player and as a team we are not strong enough at the moment,” said Tuchel, anticipating a busy last 24 hours before the transfer window shuts.

“We need to find solutions. What will help is the closing of the transfer window. We will know then who has full commitment, what we demand, what role everybody needs to fulfil. And then everybody, including myself, needs to step up to a new level of performance.”

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks.

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.

8. Pillar 2 implementation

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

While you're here

Andrew Wilks: Turkey’s promised reforms could recast US relations under Biden administration

David Lepeska: How two 16th-century pirates inspired Erdogan's foreign policy

Con Coughlin: Grandstanding in Turkey leads to terrorism in France

If you go

The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at.
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.

In post-Saddam Hussein Iraq, hope turned into despair – but wheels are beginning to turn again

Bristol statue provides UK with a 'Saddam Hussein moment' in Black Lives Matter protests

Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.

Based: Riyadh

Offices: UAE, Vietnam and Germany

Founded: September, 2020

Number of employees: 70

Sector: FinTech, online payment solutions

Funding to date: $116m in two funding rounds

Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices

How to wear a kandura

Dos

Wear the right fabric for the right season and occasion
Always ask for the dress code if you don’t know
Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts

Wear hamdania for work, always wear a ghutra and agal
Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying

Sukuk explained

Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.

Teri%20Baaton%20Mein%20Aisa%20Uljha%20Jiya

%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Amit%20Joshi%20and%20Aradhana%20Sah%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECast%3A%3C%2Fstrong%3E%20Shahid%20Kapoor%2C%20Kriti%20Sanon%2C%20Dharmendra%2C%20Dimple%20Kapadia%2C%20Rakesh%20Bedi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A

Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

Tomorrow 2021

Tomorrow 2021: Abu Dhabi business leaders predict a stronger 2019

The UAE explained: What are the new plans for the economy and why do we need them?

Abu Dhabi's plans to liberalise the economy are progressing fast - but how are other countries planning for post-oil?

UAE-wide visa changes: Expats imagine life after work in the UAE

Is the UAE's new five-year visa a game changer for expat retirement?

Company Profile

Founder: Omar Onsi

Launched: 2018

Employees: 35

Financing stage: Seed round ($12 million)

Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners

More from this package

Culture of acceptance needed to combat teen mental health issues, say experts

Netflix suicide drama 13 Reasons Why prompts young people in UAE to discuss mental health

Dubai teen campaigns for launch of a suicide helpline in UAE

New UK refugee system

A new “core protection” for refugees moving from permanent to a more basic, temporary protection
Shortened leave to remain - refugees will receive 30 months instead of five years
A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
Under core protection there will be no automatic right to family reunion
Refugees will have a reduced right to public funds