Chelsea's squad is worth £124million less than they paid for it, while Manchester United have shouldered a £115m loss on their players - but Arsenal are £343m up on theirs.
The Blues rank bottom of the Transfermarkt assessment of Premier League squad values, having spent around £880m assembling their current set of players, who have an estimated collective value of just £756m.
It helps explain why Chelsea owner Todd Boehly is offloading so many surplus players this summer having spent lavishly in the past two transfer windows on the likes of Enzo Fernandez, Mykhailo Mudryk and Wesley Fofana.