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Gary Lineker
Coming up on today's show, he was kind of damned if he did take it and damned if he didn't.
Alan Shearer
That is a bloody hard job to do. Because it's a bonkers football club. It's run very differently.
Gary Lineker
It's gone from a club that will probably attract any manager in the world to a club where the top managers in the world might think. Not sure. I wonder. This is just me throwing one out there as well. Jose Mourinho, Act 3. I think he'd take it. This episode is powered by few Fuse Energy. Before we kick off a quick pre match warm up from Fuse, a question on the teams and players who make things count. Who has scored the most Premier League goals as a substitute?
Mike
I. I know this one.
Alan Shearer
Oh dear.
Gary Lineker
Oh my. You know. Well, let. Shall we let Alan go first then?
Alan Shearer
Well, I'm gonna go for Jermaine before he's cheating again.
Mike
Someone's giving him the answers.
Gary Lineker
Do you think that's the answer though, Mike?
Mike
That's the correct answer. I knew that because I see the stat the week.
Gary Lineker
Call it an honorable draw but whoever gets the right an who's second wins.
Mike
It's got to be Chikorita, surely.
Gary Lineker
Oh, you going?
Alan Shearer
I'm going. Jiru then. Yeah.
Gary Lineker
Allan, you are the winner. The best teams find an edge wherever they can. It should be the same with your energy. Take control of your energy like it's part of your game plan. Sign up@fuse energy.com Football using code football all uppercase to save on your energy bill and get the chance to ask us your football questions. Question on the pod Full terms and conditions@fuseenergy.com hello and welcome to the Rest is football emergency episode with Alan Shearer and me, Garolinika. The news broke last night that Liam Racinha has lost his job at Chelsea. So we thought we'd jump on. What's your view, Alan? Not wholly surprising given the recent run of form. Five straight defeats without scoring a single goal.
Alan Shearer
Yeah, no, I. I wasn't surprised. No, I don't wholly blame him. I don't think he ever had a choice really. He had to say yes to becoming the manager he was at their other club and I guess there's no doubt they saw potential in him. I still think that will be the case. It'll just have to take this hit on the chin. And I think some of the things that he said in terms of giving people the opportunity to have a pop were probably not wise. But he was inexperienced and who, and I've always said it, whoever goes into that job that is a bloody hard job to do because it's a bonkers football club. It's run very differently. It's not a surprise with losing five on the spin, not scoring a goal, their demand to win trophies, to get into Champions League positions and all of those things. But my take on it would be the responsibility lies with people making the decisions to appoint him. They're the ones that should be looked at. They're the ones that need to be scrutinized rather than Liam Rossigne.
Gary Lineker
I would agree with that. But as we all know from our experience in life, in football, it's generally the coach that gets it. I mean, he did have a tough time and perhaps in hindsight he might have done a few things differently. But first, let me read out the club statement from Chelsea Football Club. On behalf of everyone at Chelsea fc, we would like to place on record our gratitude to Liam and his staff staff for all their efforts during their time with the club. Liam has always conducted himself with the highest integrity and professionalism. Following his appointment midway through the season. It's not been a decision the club has taken lightly. However, recent results and performances have fallen below the necessary standards. With so much more to play for this season, everyone at Chelsea FC wishes Liam every success in the future. Callum McFarlane will take charge of the team as interim head coach until the end of the season with support from existing club backroom staff. As we strive to achieve European qualification and progress in the FA cup, as the club works towards bringing stability to the head coach position, we will undertake a process of self reflection. I like that bit. To make the right long term appointment, well, at least have nodded their head slightly to themselves at some point. I love that bit. As the club works to bring stability to the head coach position on the day that they fire someone. I found that mildly amusing, although it's obviously not an amusing situation. I mean, it's always difficult talking about coaches and managers when they lose their jobs and it's awful. I mean, it's funny. I remember I talked to Carlo Ancelotti, I was talking to him, I said you know, you've won more than any other manager, like more champions leagues. He's won five, you know, all the Europe's top leagues he's won, he's won everything. But he's been fired like half, five, six times. How do you deal with a job? He said, well, the first time, the first time I got sacked, he said I was really, really upset. Second time, mildly upset. And after that you just know that comes with the job. So hopefully Liam will listen to that and bounce back and come back a better and stronger coach. He did have a tough time. I mean, he's. He won 11 games from 23 matches. Obviously most of those when he actually had a good start. Yeah, the first 11 matches were played in 35 days after he got the job and he won eight of them. And then things started to, to go wrong a little bit and then, then he started playing man to man tactics a little bit and, and was found out. I think Anthony Gordon actually said in one game, didn't he, they were playing man for man, so we knew we could get behind them. PSG exploited it ruthlessly, really, winning 82 on aggregate. How difficult must it be though, going into a club halfway through the season knowing that ultimately you've got to make the Champions League or you or your toast?
Alan Shearer
Well, I get, I go back to my point. You probably didn't have a choice, Gary, because with it being the, the sister club, if you like, Strasbour to, to Chelsea, I guess if he had said, no, I'm not ready, the time isn't right, they would have leaked it. He would have got accused of having no ambition. But you also know once, once you go into that football club, then you know it's ran very differently to, to most because if you don't win games and ultimately, and I guess that's the job, you've got more chance of getting the sack there, I guess, than quicker than, than anywhere else. It's not just us that are seeing it and everyone's saying it in terms of how they go out and recruit and how they give them the ridiculous long contracts. I guess the manager's long contract has got a clause in it that he doesn't get. He doesn't get the full whack if he were to get sacked. But I don't think any of the players will have that in their contract. So it's just, it's just bizarre. I mean, they have got some really, really talented players.
Gary Lineker
Yeah.
Alan Shearer
But it is bizarre that the money that they've spent and I go back to points that I've also made before that haven't got a top class keeper, haven't got a top class center, they haven't got a top class center forward.
Gary Lineker
And that's not the fault of Liam receiving.
Alan Shearer
Not at all.
Gary Lineker
Not, not. He was kind of damned if he did take it and damned if he didn't. In a way, the only way that it would have been the right thing for him is if obviously in ultimately successful which, which is not. It's not difficult. I mean Mareska kind of almost forced him to sack him because I think he could see the writing was on the wall with this, this football club. I've got some info here. I mean it's, it's, it's been widely reported and we've had it all checked out. Rico's gamble and financial reality the total money that they've committed so far is over 4 billion pounds that has been poured into the Chelsea project. That's more than the cost of building Wembley Stadium five times over. Chelsea lost 262 million pounds in a single year. 24:25, the biggest annual loss of any English club in football history. Under UEFA's stricter accounting, the loss was actually deemed to be 342 million. The top parent company has lost 1.85 billion in just over three years. Across three seasons. Chelsea loses roughly 629,000 every single day. Before player sales are accounted for, they've a hidden debt pile. Two massive loans that are not on Chelsea's books. Loan one is for 800 million which is due in 2027. Loan 2,500 million which is due in 2033. £500 million loan is rolling up interest which apparently they aren't paying it off at the moment. It's being added to the total bill each year. By 2033, that £500 million debt will have swelled to over 1.4 billion, almost triple the original amount. Chelsea are under a strict UEFA monitoring period at the moment until 2029. For passed over spending, they must get losses down to virtually zero next season season. If they miss the target by more than 17 million quid, UEFA will ban them from European competition for one year. And to meet these targets, the club may be forced to sell their best players like Cole Palmer just to balance the books. With all the debt and losses included, Bluco needs to sell Chelsea for over £5 billion just to get their money back. That valuation will make Chelsea the most expensive sports team in history without Champions League football in a new stadium. That number currently Alan looks it like Fantasy. That is mad, isn't it?
Alan Shearer
Incredible. Staggering, isn't it? I mean, that is just, it's unbelievable, really. It's, it's, it's incredible. Those, those numbers. Yeah, it's. It. I go back to my, go back to my original words of like, it's run very differently. It's a crazy football club.
Gary Lineker
What's the plan? What is this?
Alan Shearer
You tell me.
Gary Lineker
I don't know.
Alan Shearer
I mean, it's, I don't know. What, have they got three or four sporting directors or directors of football, whatever you want to call them? I don't know. I really, I really can't work it out. And it's staggering to get to that point. And we always say, don't we, whatever happens at the top always filters down onto the pitch. And that's what sort of happened this season. They were really, really, really poor the other night at Brighton, so it's, it's no surprise that it's actually come to this.
Gary Lineker
Now let's take a little break here and then look perhaps ahead to what they might do next season.
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Gary Lineker
Welcome back to the Rest Is Football Emergency episode with Alan Shearer and me, Gary Lineker. It certainly seems like an emergency for Chelsea at the moment, a club that seems like it's almost imploding at present. Where do they go from here, Alan? Man, I've just, I read out obviously in the first half there about the, the expenditure and, and the limitations that they might have and the needs that they might well have to have to sell players. So, I mean, it's probably not an attractive job proposition at present.
Alan Shearer
Well, I guess if you, if you're a manager and Chelsea approach you, then you would have to ask serious questions about where they want to go and how they're going to do that. And you have to protect yourself as, as per massively with looking at and reading and hearing all those numbers. Then they'll get someone because they'll pay someone a fortune to go in there. It's just whether they're prepared to change and understand and realize that what they're trying to do is clearly, clearly not working.
Gary Lineker
Why didn't it work for Liam Allen? I get it. He's got to take the job. He's relatively inexperienced, I think a little bit of naivety, possibly in his press conference, etc. And there's a little bit of performative stuff, but I don't think that ultimately is, is, is the biggest deal here. It's obviously about results, but tactically, what did he get wrong, do you think?
Alan Shearer
Well, he didn't have time to work with, with the players a lot when he first went in there and ultimately I guess that was his most profitable time when he first went in there in terms of early, early results etc. But I don't, I think he probably looked back and probably didn't help himself with what he was prepared to see. I mean, protecting the ball and all that nonsense and just inviting unnecessary pressure onto you and the club for, for the words that he chose. But ultimately it's results, isn't it? I mean, yeah, he'd still be here if he had won five of the last five. It's still been a job and looking forward to a semi final in the FA cup at the weekend, but that's not the case.
Gary Lineker
It seems a little bit cruel to do it just before the FA cup semi final. I, I mean, I know there's no, there's no room for empathy too much
Alan Shearer
in football, but look, you know the rules when you go into the job. It's a, it's a coach and management is, is such a difficult job anyway and, but you know the rules and I guess you know the rules even more once you go into that football club. So as I said, it's very, very different to, to most others. So ultimately top and bottom is if you don't get results, you're out as a manager.
Gary Lineker
Yeah, I wonder whether there's a little bit of, well, if we win this semi final on at the weekend, then we probably have to keep him. If we win the FA cup, we probably have to keep in next season and they might have lost confidence in him. And one or two players have spoken out a little bit, haven't they, against tactics. I saw Malo Gusto publicly suggested the team needed to know when to sit back instead of pressing. Obviously had the issues with, with Fernandez and talking about Madrid and I don't think he helped himself there by banning him for two games. I think that probably worked against him. Cooker Ray as well made a few comments questioning the club's direction and it was just three wins in the last 12 matches. It's that old adage about. I'm never quite sure these things are true, but you lose the dressing room.
Alan Shearer
Well, I guess we said it at the time, didn't we, guys? When. When he. When he banned him for those two games. I mean, the difference. Difference. Because that didn't. Didn't Rodri say. Not quite as strong as that. But didn't Rodri say something about Real Madrid? And Pep's response was really, Real Madrid are the biggest club in the world and I expect that. Whereas you have got an inexperienced manager at a huge football club with huge players and it's diff. It's difficult when you're inexperienced because you're trying to make your way and you've got to learn by your mistakes, I guess. And he tried to stamp his authority onto the football club and yeah, that was another thing that I don't think sort of helped him, but I understand what he was trying to do. But banning a big player for a couple of games. And in those couple of games, one of them was a huge game, you
Gary Lineker
know, most important player.
Alan Shearer
Exactly. It was a huge call. Which clearly didn't help.
Gary Lineker
No, no, it didn't. Let's look ahead. Who might take the role? Obviously they've put a caretaker until the end of the season. So looking at the. Some of the favorites. Or that's people talking about Iriol. Because he's announced, doesn't he, that he's not going to be at Bournemouth next season. Oliver Glasner. I'm just plucking that one at the top of my head. Because he's available in the summer. Obviously he's one stuff. Cess Fabregas has been muted, which he's doing brilliantly at Coma. I think they're currently in the top five in. In Serie A. Yeah, he's done an incredible job there. Taking them up. No, and keeping them last season and now in the Champions League places. Former Chelsea player, of course, as well. Would Cesk be mad enough to take that job?
Alan Shearer
Yeah, that's the only thing. I mean, is he. Is he in a. He's slightly forward, I guess, to what Liam was in Strasbourg in terms of what he's doing and. Etc. But that would be a big call early on in his career to go to Chelsea now or at the end of the season. That would be a huge call from. From him. Him. I don't know. It'd be a big, big ask.
Gary Lineker
It is. I mean, I think it's gone from a club person. This is just a personal view club that would probably attract any manager in the world to a club where the top managers in the world might think. Not sure. I wonder. I wonder. This is just me throwing one out there as well. Jose Mourinho, act three, I think. I mean, I think he'd take it. I mean, he loves London, loves the area, loves the football club. He's. He's won so much for them over the period. He's at Benfica at present, obviously, but
Alan Shearer
I guess if there's one guy who's seen it and done it all.
Gary Lineker
Exactly.
Alan Shearer
Would understand and know how to play them, then he would. He would be able to do that, I'm sure.
Gary Lineker
I think he'd be strong enough to deal with everything as well. I think you need a massive personality in there at the moment. Probably so. Anyway, I just thought.
Alan Shearer
Interesting.
Gary Lineker
Well, we shall see. Well, thanks for. For popping Alan and. And we're sorry it ended badly for. For.
Alan Shearer
His time will come again.
Gary Lineker
He'll get another chance because he's clearly a talented coach and that was like. He was dealt a tough hand there, I thought, you know, as we said, he was damned if he took the job and damned if he didn't and it's not worked out. Wish him all the best in the future. Okay, Al, thanks very much. Goodbye from me.
Alan Shearer
Goodbye from me.
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Podcast Summary: The Rest Is Football – “Liam Rosenior Sacked!” (April 23, 2026)
In this emergency episode, Gary Lineker and Alan Shearer urgently react to the sudden sacking of Chelsea head coach Liam Rosenior. They dissect Chelsea’s turbulent form, the unique challenges of managing the club, and the extraordinary financial pressures shaping its future. The conversation spans the specific reasons for Rosenior’s downfall, the peculiar structure of Chelsea’s current hierarchy, and daring speculation about who might take the job next—peppered with their trademark wit and candor.
Not a Surprising Decision:
Chelsea’s Official Statement Read & Mocked:
Strong Start, Sudden Decline:
Impossible Demands:
Alan's Critique:
Ownership and Management Chaos:
Staggering Losses and Debt:
Lost Dressing Room and Player Clashes:
Tactical Naivety:
The Sacking's Timing:
Is Chelsea Still a Top Job?
Potential Successors:
“That is a bloody hard job to do, because it's a bonkers football club. It's run very differently.”
— Alan Shearer (00:32, 02:34)
“With all the debt and losses included, Bluco needs to sell Chelsea for over £5 billion just to get their money back. That valuation will make Chelsea the most expensive sports team in history without Champions League football in a new stadium. That number currently...looks like fantasy.”
— Gary Lineker (09:54)
“He was kind of damned if he did take it and damned if he didn't.”
— Gary Lineker (00:27, 07:47, 18:29)
“I saw Malo Gusto publicly suggested the team needed to know when to sit back instead of pressing. Obviously had the issues with Fernandez...Banning him for two games probably worked against him.”
— Gary Lineker (14:29)
On a possible Mourinho return:
This episode blends statistical insight, blunt analysis, and a touch of dry humor while assembling a cautionary tale about modern football’s pressures at the elite level. The hosts are clear: the root problems at Chelsea run deep, and any incoming manager will need personality, resilience, savvy—and probably a touch of madness—to succeed. As Lineker says, Rosenior “was dealt a tough hand,” but the real scrutiny should focus on those running the club, not just the man on the touchline.