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- Xabi Alonso is the 2/5 favourite with BetVictor to become Chelsea's next permanent manager
- Saturday's FA Cup Final against Manchester City at Wembley represents interim boss Calum McFarlane's chance at a trophy
- Alonso has demanded full control over the squad and key sporting decisions as a condition of any agreement, according to reports
The Most Important Appointment in Chelsea's Recent History
Chelsea's 2025-26 season has been one of the most turbulent in the club's recent history, and as Calum McFarlane prepares to take the side out at Wembley for Saturday's FA Cup Final against Manchester City, the club's owners are working at pace to ensure the next chapter begins with the right man in the dugout.
BetVictor have Xabi Alonso as a dominant 2/5 favourite to become Chelsea's next permanent manager, a price that implies a 71.4% probability of appointment and reflects the advanced state of talks between the club and the Spaniard's representatives.
For those looking to get involved in the managerial market, the best football betting sites have the full range of next manager odds available.
McFarlane has steadied the ship in the interim, backing Pedro and Palmer in the process, and Saturday's FA Cup Final represents his final audition for a job that has already been earmarked for someone else.
Xabi Alonso: The Demand That Will Define the Negotiation
The story of Xabi Alonso's emergence as Chelsea's frontrunner is one that has built steadily over the past six weeks.
David Ornstein confirmed Alonso as a genuine candidate, with high-profile backing inside the BlueCo ownership group, a significant indicator given how closely guarded Chelsea's internal deliberations typically are.
The Guardian's report that Chelsea's players themselves are backing Alonso as the ideal candidate adds another compelling layer as dressing room support for a managerial appointment before it has been made is a rare and meaningful signal in modern football.
Alonso's CV justifies every syllable of that support. He led Bayer Leverkusen to their first ever Bundesliga title in 2023-24, achieving it unbeaten, before taking the Real Madrid job.
His spell at the Bernabeu ended by mutual consent after six months, but the circumstances of that departure, a club in boardroom turmoil, reflect rather more on Real Madrid's internal chaos than on Alonso's capabilities.
Next Permanent Chelsea Manager Odds
| Manager | Odds | Implied Probability |
|---|---|---|
| Xabi Alonso | 2/5 | 71.4% |
| Andoni Iraola | 5/1 | 16.7% |
| Filipe LuĂs | 10/1 | 9.1% |
| Oliver Glasner | 12/1 | 7.7% |
| Marco Silva | 12/1 | 7.7% |
What the expert says...
Iraola, Glasner, Silva and the Alternatives the Market Has Already Largely Dismissed
The gap between Alonso at 2/5 and the rest of the market is stark, and it reflects the current state of negotiations rather than a balanced assessment of the alternatives.
Andoni Iraola at 5/1 is the most credible fallback option. The Bournemouth manager has been one of the most impressive coaches in the Premier League over the past two seasons, transforming a relegation-threatened squad into a consistent top-half outfit through exceptional tactical organisation and player development.
Iraola is reportedly keen to stay in the Premier League and would be excited about the Chelsea possibility, and at 16.7% implied probability, the market rates his chances as genuinely possible rather than merely theoretical.
Oliver Glasner and Marco Silva share 12/1 and are both managers who have performed admirably with limited resources at Crystal Palace and Fulham respectively, and both of whom would represent significant steps up in ambition and budget.
Where To Bet on the Next Chelsea Manager
With Chelsea aiming to have an appointment in place before the World Cup begins in June, the odds in this market could move dramatically within days.
BetVictor are one of the most trusted UK betting sites for football management markets, with competitive odds across all next manager specials.
New customers may find free bets available, so always check the latest promotions before placing bets.
For a full breakdown of Chelsea's managerial history and betting trends, visit our dedicated next Chelsea manager betting odds page.
