Are Chelsea Set to Fail Again with Their Transfer Policy This Summer?

It was much later than the first week of June when alarm bells started ringing at Chelsea last summer. It was not until a failed attempt to sign John Stones from Everton left Chelsea short at the back when reality would hit.

We were on the fringes of August, and the true nature of Chelsea's transfer policy was laying bare just how 2015/16 was going to become a disaster. Reigning Premier League champions or not, Chelsea had been caught napping, and their rivals had stolen a march on them.

Between May and August, Chelsea made just two signings, the first being the injury-prone and outrageously declining Radamel Falcao. A game-changing transfer three years previous, Falcao's knee problems meant he was nothing more than a vanity project for Jose Mourinho, who was hoping to restore the Colombian's abilities.

The other addition was Asmir Begovic, whose capture was to fill the void created by selling Petr Cech to Arsenal.

The imbalances of the squad were not being addressed. In fact, Chelsea were in a weaker position than they had been in May, when they were crowned champions, as they had sold Filipe Luis back to Atletico Madrid. That meant the Blues were starting the season with just five recognised defenders; three of whom were centre-backs, the other two being right-backs.

When Antonio Conte was officially confirmed as being Chelsea's next boss in April, the impression was that Chelsea had got their house in order. Conte would have Euro 2016 to deal with in the meantime, but with their man in place, the rebuild ahead of 2016/17 was starting in earnest.

Claudio Villa/Getty Images

Two months have passed since then, and with the European Championship on the brink of kicking off, Chelsea have nothing more than transfer rumours to show for their activity in the market. There's been a lot of talk but nothing substantial enough to back it up.

All the while, Pep Guardiola and Manchester City have already signed Ilkay Gundogan from Borussia Dortmund. Across London, the Gunners are seemingly on the verge of adding Jamie Vardy to their strike force, according to BBC Sport, having completed the signing of Granit Xhaka.

Vardy was a major reason for Leicester City's success last year. He broke a goalscoring record en route to helping deliver Claudio Ranieri's men the title, and it's clear Arsene Wenger is willing to change his approach of old.

Whereas Arsenal have traditionally made signings with the future in mind under Wenger, chasing Vardy is a statement of intent for next season. His potential capture is very much for the here and now, as the Gunners can no longer go on failing to deliver in the league.

Just the prospect of Vardy and how close the deal feels to being finalised has given Arsenal momentum, adding to the signing of Swiss midfielder Xhaka. Some might say it's the same sort of impetus that Chelsea gave their own title push for 2014/15 ahead of the World Cup preceding that campaign.

While other clubs were observing talent in Brazil that summer, Chelsea had already ensured Cesc Fabregas and Diego Costa were off the market. Those two players would prove the big figures in winning them the title.

Compare that to now, and Chelsea have done little. Conte may be away with Italy until their participation at Euro 2016 ends, but that is no excuse. It is well known that while managers may have a say in signings, it's the likes of Michael Emenalo and Marina Granovskaia who help shape the Blues' transfer policy.

It's too simple to suggest we're not seeing enough activity because Conte is preoccupied. And if that is the case, that Chelsea can't sign players until he is officially on the payroll, then why appoint him at all? This summer is too important for Chelsea to be sat around waiting for it to begin.

There is no doubting Conte's talents from the dugout. Before he was Italy coach, Conte proved his worth with how he restored Juventus as Serie A's dominant club. What we're seeing with Massimiliano Allegri's all-conquering side is largely down to what Conte built between 2011 and 2014.

That suggests he is the right man to be rebuilding Chelsea's future, only he isn't around to be doing it. If Chelsea aren't confirming deals for players until he has time to assess what the squad needs going forward, the same problems from last summer will come back to haunt the Blues.

ADRIAN DENNIS/Getty Images

Given Everton's history of selling talented players at the right price, there's every reason to suggest the deal for Stones failed more because of the timing than the actual fee involved. Everton put up a strong fight to keep the defender, but had Chelsea offered the sort of money they were in, say, June, we can question the Toffees resolve to play hardball.

Regardless of what Everton were being offered come August, the since-departed Roberto Martinez would have struggled to use the funds effectively. The manger would have been actively weakening his own team to strengthen Chelsea's right on the eve of a new campaign.

It was poor judgement all around. And Chelsea are hinting at repeating it all over again.

From Premier League champions to just making the top 10 a season later, it's clear they have big problems to address. There's an over-reliance on certain players, and defensively they still look weak given Kurt Zouma will not be fit to start the new season.

Without adding any new faces, Conte's first day of pre-season will be with a team that was playing John Obi Mikel as a makeshift centre-back come the end of the previous campaign. That's the reality for where Chelsea find themselves.

"

Mikel at centre back. Just when I thought this season couldn't get anymore desperate  #CFC

— Andrew J Symes (@Symesy1979) May 11, 2016"

Throw in a pre-season tour to the U.S.—from which Chelsea return just a week ahead of the new season—and time is looking tight to make amends and improve a squad in desperate need of fresh blood.

Chelsea will be entering the same territory as last summer, when—for the first time under Roman Abramovich's ownership—their money wasn't good enough to tempt clubs. It was the moment they could no longer strong-arm their way through the market.

Whereas they could offer Champions League football as bait to snare players such as Pedro by the time 2015/16 had kicked off, a lack of European football next term is another obstacle they must overcome.

It may only be the first week of June, but Chelsea should be concerned about where the summer is headed. It's hinting at too much being left to do in the latter stages, and of all the Premier League clubs, it's they who know how damaging that can be.

Garry Hayes is Bleacher Report's lead Chelsea correspondent. All quotes were obtained firsthand unless otherwise noted. Follow him on Twitter @garryhayes.