Despite their record-breaking financial losses, Chelsea are still keen to sign Adam Wharton.

The Blues are actively seeking candidates to strengthen their midfield, and Wharton has emerged as one of the standout choices following his impressive rise at Crystal Palace.

Chelsea's plans are partly affected by the increasing uncertainty surrounding Enzo Fernández, who continues to be linked with a potential move to Real Madrid.

The Spanish giants are also said to be very impressed with Wharton, but would prioritise signing the Argentinian Chelsea player. This could make Wharton a potential replacement — but Chelsea's interest is not just a reaction to the situation.

The club has been monitoring the midfielder throughout the year, and Wharton's experience of playing in the Premier League, combined with his composure and diverse passing ability, makes him an attractive prospect for the long term.

With a minus £262 million in the 2024-2025 period, Chelsea must continue to build a strong financial foundation.

Manchester City's most significant loss in the English Premier League was recorded in 2011, when they incurred a loss of £197.5 million.

Internally, Chelsea is confident that it remains within the current financial framework of the Premier League, but the significant financial figures will draw more attention to how they spend in the future — particularly with regard to high-value transfers.

That could even become a key factor in any move to sign Wharton, and Chelsea will not be the only team involved in the race.

Manchester United are trying to secure the top spot in the race to sign Wharton, viewing him as a key target in their efforts to rebuild their midfield. They are also said to be interested in players such as Carlos Baleba, Sandro Tonali, Joao Gomes and Elliot Anderson.

Manchester City also have Wharton on their radar, while interest from Real Madrid would add a further layer of prestige to the deal.

Crystal Palace are in no hurry to sell the player, but they recognise the challenge they face.

Wharton's contract runs until 2029 and he was initially valued at around £100 million; the club is reportedly using the price of Declan Rice's transfer from West Ham United to Arsenal as a reference point in future negotiations.

With the midfielder expected to be in the England squad for the upcoming World Cup, his value is still increasing — setting the stage for a major transfer battle in the coming months.