Raheem Sterling expected to receive major settlement after Chelsea exit

February 6, 2026 Oliver Obel

Raheem Sterling’s departure from Chelsea has highlighted the financial trade-offs elite clubs face when ending high-value contracts early, even when those exits are framed as mutual agreements.

Chelsea confirmed in late January that the England forward had left by consent, bringing an end to a three-and-a-half-year spell that followed his £50 million move from Manchester City in 2022.

The club has not disclosed the terms of the settlement, but industry figures say Sterling is still likely to have received a substantial payout, despite agreeing to relinquish part of the salary owed on his contract.

Expectations unmet

Sterling signed a five-year deal reportedly worth about £325,000 a week and arrived as a central figure in Chelsea’s post-takeover rebuild. On the pitch, the return was mixed.

He scored 19 goals in 81 appearances across all competitions and struggled to establish himself as managers and tactical priorities changed. His standing declined further under head coach Enzo Maresca, who sanctioned a loan move to Arsenal for the 2024–25 season. Sterling scored once in 28 appearances before returning to Stamford Bridge.

Contract resolution

On his return, Sterling did not feature at senior level and trained separately from the main squad, part of a group of players deemed surplus to requirements. Chelsea confirmed on January 28 that his contract had been terminated by mutual agreement, despite Maresca having left the club weeks earlier.

The Press Association reported that Sterling waived a portion of the money owed over the final 18 months of his deal to secure his release.

Former Liverpool managing director Christian Purslow said such exits often remain expensive once employment costs are considered. Speaking on The Football Boardroom podcast, Purslow estimated Sterling’s remaining contractual value at between £17 million and £24 million, before tax and national insurance contributions.

He suggested a negotiated settlement in the region of £19 million to £20 million would be consistent with similar deals, allowing Chelsea to cap longer-term liabilities while giving the player immediate freedom.

Next move

Sterling, now 31, is a free agent and eligible to sign outside the transfer window. He has been linked with Fulham, West Ham and Tottenham, with interest also reported from clubs in Italy and Germany.

Transfer expert Henry Winter said Sterling has held discussions with clubs in several top leagues but faces practical considerations. Speaking on the same podcast, Winter said remaining in London could weigh heavily on his decision.

For Chelsea, the deal reflects a broader pattern in modern squad management: decisive exits that reduce dressing-room congestion, but rarely come without a significant financial cost.

Sources: Press Association, The Football Boardroom podcast