Chelsea had their 'pants pulled down' after spending big in January, insists Danny Murphy

Danny Murphy claims Chelsea have had their 'pants pulled down' after paying over the odds for players in the January transfer market.

Chelsea splashed the cash throughout the winter window, with Mykhailo Mudryk for £88million and Benoit Badiashile for £35m just among the few big name arrivals at Stamford Bridge.

But it was the Blues' deadline day signing of Enzo Fernandez which saw Chelsea smash the British transfer record and pay Benfica £107m for the Argentinian, taking their spending to over £300m last month alone.

And Sportsmail columnist Murphy feels Chelsea owner Todd Boehly is being taken advantage of by clubs and that the majority of Graham Potter's first XI would struggle to get into Manchester City's side under Pep Guardiola.

Murphy told talkSPORT: 'I think they are overpaying for players and I still don't think the majority of their first XI gets anywhere near City's team.

'Not really [impressed].'

When asked about World Cup winner Fernandez specifically following his record-breaking move, Murphy added: 'I watched a few of his games live. He's decent, but not worth £100m. They've been absolutely bent over there.

'He's a good midfielder, tenacious, young, gets on the ball and is brave. But he's not Rodri, not Casemiro.

'They are overspending on players and people are seeing them coming and they are taking their pants down.'

Chelsea confirmed on Wednesday that Fernandez will wear the No 5 shirt formerly won by Jorginho, with the Italian midfielder having left the Blues on deadline day in a £12million move to Arsenal.

The Argentine World Cup winner signed an eight-and-a-half year contract which could see him stay at the club until 2031.

Boehly has backed his manager Potter in the market, with the American forking out over half a billion on transfers in the last two windows combined.

And with Chelsea currently languishing in 10th, Boehly will be hoping he can get an almighty return on his significant investment into the squad.