Danny Murphy thinks Chelsea spent way too much money on one of their recent signings.

Chelsea smashed their transfer record twice this year after bringing in Enzo Fernandez and Moises Caicedo.

They also had to spend big to land Mykhailo Mudryk and Danny Murphy, speaking on FIVE, has been critical of their transfer business.

Despite all of their new arrivals, the Blues are struggling, finding themselves 12th in the Premier League table.

Chelsea overpaid for Moises Caicedo

Murphy thinks Brighton & Hove Albion have robbed Chelsea after selling Caicedo to them for a record £115m (Sky Sports).

Discussing the 22-year-old on FIVE, the former Premier League midfielder said: “I was amazed Liverpool were going to spend what they were on him.

“I like him. He’s a young lad. He’s got potential, but he’s not Declan Rice, is he? Not in the same conversation. They’ve overspent. They have had their pants pulled down.”

Chelsea did overspend on Moises Caicedo

Caicedo is a brilliant midfielder and proved it in the Premier League last season.

For example, during his final campaign at the Amex, he made 2.7 tackles per game, which was the highest average in a very good Brighton side (WhoScored).

Still, you cannot forget that Caicedo is just 22 and has not even been playing in a top European league for that long. Bearing that in mind, he was never worth £115m.

But it is a crazy market, which Chelsea have obviously contributed to, and Mauricio Pochettino really needed midfield reinforcements after losing Mason Mount, N’Golo Kante and Mateo Kovacic all in the same transfer window.

All in all, Caicedo has not lived up to his transfer fee, which was always going to be a difficult task given how much it was. Chelsea legend John Obi Mikel, though, is still backing the Ecuador international to come good.