Chelsea accepts Sunderland’s decision to keep Granit Xhaka, and crypto markets don’t care

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Chelsea will not be signing Granit Xhaka. Sunderland said no, the Swiss midfielder said he’s staying, and the Blues have moved on.

Sunderland rejected Chelsea’s £8 million bid for Xhaka last week, calling him “never for sale.” The 33-year-old captain, who joined Sunderland from Bayer Leverkusen for an initial £13 million with £4 million in potential add-ons, has a contract running through 2028. He’s staying put to lead the club into the Europa League after their seventh-place Premier League finish.

Xhaka’s situation is a micro case study in player valuation economics. Chelsea, now managed by Xabi Alonso (who coached Xhaka at Leverkusen), thought the reunion would be worth £8 million. Sunderland thought their captain’s on-pitch leadership plus his contractual security made him worth far more than any bid Chelsea could table.

Chelsea, meanwhile, will redirect their midfield search elsewhere.

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