Xabi Alonso is BlueCo's get-out-of-jail-free card! Winners and losers as Chelsea FINALLY nail managerial appointment

How the hell did BlueCo pull this off?! That's the question on everyone's lips after the Chelsea owners landed one of the most revered young coaches around, even though the club is almost certain to fail to qualify for the Champions League as the Blues head for a mid-table finish at the end of another mightily underwhelming season.

The appointment is also in spite of their failures as an ownership group to date, with their bizarre transfer strategy over the past few years and the ill-advised churn in the dugout - Alonso is their fifth permanent appointment in four years - somehow still not enough to deter someone of the Spaniard's calibre, although that is probably testament to the prestige of the club, rather than their allure as bosses.

Nevertheless, this is a huge win for Behdad Eghbali, Todd Boehly and Co. at a time where their stock was at an all-time low with the fanbase. It was no accident that the appointment was announced in the wake of the FA Cup final defeat, before which hundreds of disgruntled supporters protested against the owners on Wembley Way.

Chelsea's gain could very much prove to be Liverpool's loss. Owners Fenway Sports Group (FSG) have stood grimly by Arne Slot throughout a torrid title defence that could still result in them failing to qualify for the Champions League, despite the fact that club legend Alonso has been available since mid-January following his own sacking by Real Madrid. Last summer's squad overhaul, Mohamed Salah's decline, injuries and the tragic death of Diogo Jota have all been reported as mitigating factors.

But while Slot has credit in the bank after guiding Liverpool to a Premier League triumph in his debut campaign in 2024-25, the tide is turning and the fans are losing patience fast. Indeed, many supporters would have expected the Dutchman to be replaced by their former midfielder maestro ahead of next season, but around 35 hours after Slot's side hit a new low in the thumping 4-2 defeat to Aston Villa on Friday, Chelsea had pounced and Alonso was sensationally appointed on a four-year contract - taking their dream next manager off the table.

Could this appointment sway Enzo Fernandez's decision on his future? The Argentine has made it abundantly clear that he plans to assess his options in the summer, especially if Chelsea fail to qualify for the Champions League. After casting doubt over his continuation at Stamford Bridge, he brazenly hinted at a move to Real Madrid in a now-infamous YouTube interview during the March international break. However, Alonso's arrival could change things.

This is the kind of show of ambition that the 25-year-old might have been waiting for, given it's not out of the question that he could stay. According to his agent Javier Pastore, there have been talks over a new contract, albeit they are on hold until the World Cup is over after the two parties failed to reach an agreement earlier this season. You would imagine Enzo would relish the opportunity to work under a manager who was one of the finest central midfielders of his generation, who's won it all, and is a Spanish speaker to boot.

He could be the ideal candidate for the Granit Xhaka role if Alonso replicates his Bayer Leverkusen tactics, acting as a deep-lying playmaker who links midfield and attack by feeding the forward midfielders.

One player who may not be a good fit for Alonso's tactical setup, however, is club captain Reece James. If the Spanish tactician goes back to the fluid 3-4-2-1 shape that brought him so much success at Leverkusen then that will necessitate the use of wing-backs, but there will be question marks over whether the 26-year-old is still up to the physical test.

James was once one of the finest in the world in the wing-back position as a surging attacking presence on the right flank, but so often his body (specifically his hamstrings) let him down. While he seems to have largely overcome his fitness issues, the England international has had to reinvent himself as a more defensive-minded right-back-cum-midfielder. Now much less explosive, it remains to be seen whether James is capable of transitioning back to bombing up and down the wing, which could be better suited to Malo Gusto or imminent new arrival, Geovany Quenda.

Chelsea fans will probably still scarcely be able to believe that the club has pulled off such a huge coup, given the situation it currently finds itself in.

Discontent among the support has been simmering for some time now and has often threatened to boil over into full-blown mutiny, with their rage understandably directed at the club's beleaguered ownership. There have been sporadic protests against BlueCo and hundreds of fans gathered again on Wembley Way ahead of kick-off on Saturday, carrying a banner that read "BlueCo OUT! We want our Chelsea back".

Appointing someone of Alonso's calibre has immediately appeased many of those dissenting voices. The 44-year-old could be transformative, as he looks to foster a culture of togetherness and help a squad packed with talent fulfil its huge potential with his tactical nous.

It will be seen as a massive positive, too, that his title is 'manager' rather than 'head coach' - reportedly the decision of the club; this suggests that he will have far more influence than the string of coaches that came before him. The hierarchy must now deliver on the promise of backing the tactician with quality, ready-made signings in the transfer market. He showed what he can do with the right tools at his disposal during his time with Leverkusen, bringing in Xhaka and more in the summer of 2023 before remarkably dethroning serial Bundesliga champions Bayern Munich to claim the Werkself's first-ever title.

All of this means that, despite another hugely disappointing campaign, Chelsea fans will be in a buoyant mood as the season comes to a close ahead of what promises to be a seismic summer.

Chelsea's wide players will be desperately hoping that Alonso persists with the 4-2-3-1 shape that he regularly deployed in Madrid, but if he does revert back to the 3-4-2-1 formation that delivered so much success, then there are a number of wingers whose days at the club may well be numbered.

Estevao certainly isn't one of them, and the teenager considers himself to be equally adept as a No.10 so would have no problem inverting as one of the two attacking midfielders, most likely alongside Cole Palmer behind Joao Pedro - a very exciting prospect. Quenda will also complete his pre-agreed transfer from Sporting CP and is capable of playing at right or left wing-back.

However, the likes of Alejandro Garnacho and Jamie Gittens - who have both flattered to deceive since arriving for a combined £92 million ($123m) last summer - will be sweating on their involvement, while Pedro Neto's versatility means he would be capable of deputising but probably nothing more.