What would you buy if you had more money than God? A Ferrari? A Lamborghini? Twelve Lamborghinis? A swimming pool full of Haribo? Give it all away to charit- buy twenty five Lamborghinis? The size of modern football squads is continually expanding.
The best way to make a small fortune in football is to start with a big one. Chelsea’s new owners, Clearlake Capital with Todd Boehly as their figurehead, might be in the process of proving that.
The size of modern football squads
In the first two transfer windows under new ownership Chelsea have bought 16 players for half. A. Billion. Pounds. In his assessment of Chelsea’s business, the excellent Jacob Steinberg writes:
“The squad remains ridiculous. As it stands Chelsea’s options at left wing include Raheem Sterling, Christian Pulisic, Mudryk and Callum Hudson-Odoi, who is on loan at Bayer Leverkusen…Their reserve left-back cost £62m. Jorginho’s departure leaves them with a mere seven central midfielders.”
I politely disagree. Not on the numbers, they’re bang on. But with the implication that this is a bloated squad.
Adjusted thinking
In recent seasons we’ve adjusted our expectations around positions, formations, salary sizes, transfer fees. We know that full backs are now expected to wheeze their lungs out covering the entire length of the pitch, that 4-4-2 is out the window and that salaries and transfer fees are now officially ‘a madness’.
Despite this, we still expect squads to be about 25-26 players. The conventional wisdom is for two players in every position, one starter and one backup making a total of 22. Throw in some fringe players from the academy or for dressing room vibes and you’re at 26.
Post Covid, teams are allowed to make 5 substitutions per match. Managers prefer not to rotate defensive players so they build familiarity and stability, the overwhelming fear that they’d immediately forget how to play alongside each other is greatest seen in defence. The Everton effect. Sorry/not-sorry Everton fans.
Fun for everyone
This can mean that in the favoured modern 4-3-3, 5 of the 6 midfield and attacking players are substituted. Feasibly, ten players will play in five positions each match. Fun for everyone!
So we need two players per advanced position before we have our squad backup. In 4-3-3 that’s nine attackers and nine central midfielders, as well as the classic eight defenders and two goalkeepers. A minimum of 28 before the fringe extras gives a total of around 30-32.
The seven central midfielders above might still be on the large side but it’s not crazy talk. The size of modern football squads is significantly bigger.

This theory isn’t bulletproof. In the last few months Chelsea, to use the above example, have played 5-3-2. They have alternated between 4 and 5 substitutions each match and have been wholly indiscriminate about which positions they substitute.
Yet they still need the squad size to have the option to give five extra players a run out.
Cash is king
Add to this the idea that modern players are money generators as well as expenditures. A breakout national star such as Pierre-Emerick Aubameyang, Armando Borja or Mykhailo Mudryk is has the potential to unite his nation and their diaspora behind their club. They can also motivate money out of their wallets and towards the club shop. Big squads can be good.
In the coming years we’ll surely see squad registration limits for the major competitions increased. Football follows money and clubs need to keep spending big to keep the wheels of commerce turning.
After that it’s up to the managers to maintain the delicate balance of playing time and keep everyone smiling.