A source linked to both Chelsea and Monaco suggested that the two clubs had taken a major risk and ultimately paid the price.
The late transfer-window saga involving Folarin Balogun, Everton, Monaco, Lamine Camara and Chelsea ultimately ended without a satisfactory outcome for any of those involved.
Camara, a 22-year-old Senegal international midfielder, was on Chelsea’s shortlist as the club prepared to sell Enzo Fernandez to Manchester City for £125m.
However, Monaco firmly refused to release him for the amount Chelsea were prepared to offer.
Monaco sporting director Thiago Scuro said discussions between the clubs had been taking place for the previous 10 days.
He explained that Chelsea contacted Monaco at approximately 16:00 BST the previous day, but the response remained unchanged: Camara was not available.
Meanwhile, Monaco had permitted United States striker Balogun, 25, to travel to Merseyside and finalize a £40m transfer to Everton. The French club also believed Camara had accepted that he would remain with them.
With three hours left before the window closed, Chelsea appeared satisfied with their midfield choices despite Fernandez’s departure, having already failed in approaches for Camara and Roma midfielder Manu Kone.
Complications during Balogun’s medical at Everton then revived Chelsea’s opportunity to sign Camara for the £47m fee they had previously proposed. Talks with Monaco resumed at about 20:00 BST.
Everton, unable to secure another option in place of Balogun, also restarted their attempt to complete his signing shortly before the deadline.
Chelsea had prepared all required documents for Camara and did not need to file a deal sheet, which would have requested extra time from the Premier League to conclude the transfer after the deadline.
Nevertheless, the transfer was cancelled. Monaco admitted that Camara was disappointed after speaking with manager Xabi Alonso, completing a medical and signing a contract scheduled to run until 2033.
Scuro later told reporters that at around 22:00 BST, or possibly slightly earlier, Everton concluded there was no medical problem and confirmed they were prepared to sign Balogun’s contract.
He added that Monaco immediately informed Chelsea that the Camara transfer was off, describing the decision as a fair part of the process.
Chelsea reacted angrily, alleging that Monaco notified them in writing that the deal had been cancelled instead of discussing the decision over the phone.
By submitting a deal sheet five minutes before the 23:00 BST deadline, Monaco believed they had given Everton enough additional time to finalize Balogun’s transfer and secured the sale needed to support compliance with Uefa’s financial rules.
The French top-flight club needed to generate €150m through player sales during the summer and had collected €106m from outgoing transfers at that stage.
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