Granit Xhaka prepared to accept Chelsea’s contract terms as Xabi Alonso reunion beckons

Granit Xhaka wants to play for Chelsea. The 33-year-old Sunderland midfielder is reportedly willing to accept the personal terms Chelsea have put on the table, setting up a potential reunion with Xabi Alonso, the man who coached him at Bayer Leverkusen.

There’s just one problem. Sunderland doesn’t want to sell him.

The deal that doesn’t exist yet

Xhaka may be ready to sign on Chelsea’s dotted line, but Sunderland holds a contract that runs until 2028 and has publicly declared the midfielder is not for sale. The club signed Xhaka from Bayer Leverkusen in July 2025 for an initial fee of £13M, with add-ons that could push the total to £17.3M. He currently earns approximately £5.72M annually.

Sunderland qualified for the Europa League in 2025-26, finishing above Chelsea in the process. Initial discussions between Chelsea and Xhaka’s camp are reportedly underway, but no confirmed deal exists.

The Xabi Alonso connection

The driving force behind this pursuit is Chelsea manager Xabi Alonso. The former Liverpool and Real Madrid midfielder knows Xhaka well from their time together at Bayer Leverkusen, where Alonso managed the Swiss international before both moved on.

What this means for investors

The crypto angle here centers on Chelsea’s fan token, CFCT, which trades on the Chiliz platform. Fan tokens are a peculiar corner of the crypto market where sports sentiment directly influences trading behavior. If Xhaka’s transfer materializes, it could create a temporary bump in CFCT activity as Chelsea supporters react to the news. Sunderland’s firm stance introduces significant uncertainty: if Sunderland holds firm, the catalyst evaporates entirely.

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