Chelsea had a hectic transfer window last summer, forking out £250million on new talent.
Frank Lampard wanted to rebuild his squad after seeing out the previous year's transfer embargo with a pivot to youth, and owner Roman Abramovich spared no expense to back him.
While Hakim Ziyech signed in February, he wasn't able to join until the summer, when he was joined by Timo Werner, Edouard Mendy, Ben Chilwell, Thiago Silva and record signing Kai Havertz.
However, they still missed out on the man believed to be Lampard's ultimate target to help balance their attacking talent: Declan Rice.
Today, Mirror Football revisits their surprise swoop to sign Werner ahead of Liverpool, and their failure to convince West Ham to part ways with Rice.
Timo Werner to Liverpool
Chelsea stunned everyone when they came out of seemingly nowhere to sign Timo Werner from under Liverpool's noses.
The German striker was one of the most sought-after players in Europe after an excellent season at RB Leipzig and the £53million release clause in his contract.
With Liverpool eager to sign a new forward to provide competition for their free-scoring front three, it seemed inevitable that Werner would join, especially as he proclaimed such a desire.
What went wrong for Liverpool?
Despite their interest, and Liverpool being eager to sign reinforcements up front, they ultimately refused to fork out the money required to trigger that release clause, despite the player's - and Jurgen Klopp's - eagerness.
Liverpool's loss was Chelsea's gain, and the Blues snuck in to complete a deal within a matter of days after their initial interest was made public.
Resigned to losing their star man, Leipzig had no interest in lowering their asking price for Werner to allow Liverpool to find a way back in - despite the two club's boards having a strong relationship.
As a result, Liverpool were left to watch as Chelsea stumped up the cash and released the German from his contract.
What's happened since?
Since making the move permanent, both Liverpool and Werner have struggled.
The German striker has failed to show the Reds what they've been missing and has struggled to be a regular scorer - whether playing as the No.9 or alongside either Tammy Abraham or Olivier Giroud.
Werner failed to get going under Frank Lampard and it was widely believed that the decision to bring in Thomas Tuchel was made - in part - to help him and Kai Havertz.
Since then, he seems to have found more of a home playing from the left as an inside forward, with Giroud playing as a central striker and nodding down balls for him.
So, did Liverpool make a mistake?
Liverpool went out and bought Diogo Jota from Wolves late in the transfer window in a cost-effective deal where they paid just £4million up front.
Shortly after joining he broke into the starting XI and was looking impressive, with nine goals in 15 games in the Premier League and Champions League.
However, a knee injury halted his season, and he is still waiting for his return to the pitch for the first time since early December.
Werner may have more league goals than Roberto Firmino, but it seems unlikely he'd break into the Reds' team at the moment considering Sadio Mane and Mohamed Salah remaining steadfast on each wing.
Liverpool, on the other hand, have been unable to replicate their free-scoring success from last season despite creating plenty of chances.
They are expected to go after a new striker in the upcoming summer transfer window, either to replace Firmino or create another option. The Brazilian has scored just six times in 26 Premier League appearances this term.
While Werner has struggled to hit the ground running, his contract runs until 2025 giving him plenty of time to prove himself in England.
Time will tell whether Liverpool will come to regret missing out on the German forward, but the upcoming summer transfer window could prove crucial to their forward hopes.
Declan Rice to Chelsea
Chelsea went all-out last summer to improve their squad, with Lampard spending £250million on new talent.
Director Marina Granovskaia wanted to financially support the former manager, and the Blues spared no expense to rebuild the squad.
But despite the new arrivals, there was no little suggestion that Lampard actually missed out on the player he craved more than any other - West Ham's Declan Rice.
The England midfielder emerged as one of the best midfielders in the Premier League and has captained the Hammers this term in Mark Noble's absence.
His ability to play in defence made him a valuable target for Lampard, who wanted to build his defence around the youngster.
What went wrong?
Chelsea, who released him from their academy when he was a teen, were faced with the prospect of having to pay £73m for Rice.
As a result, they cancelled their bid and Lampard decided to wait until the 2021 summer window.
But for Lampard, the opportunity to reignite his interest never came, as he was sacked in January.
It's been claimed that some Chelsea officials were unhappy with Lampard's desire to bring Rice back to the club, considering the financial outlay it would take to re-sign the midfielder they let go for nothing.
Were they ever as serious as he in signing Rice to begin with?
What's happened since?
West Ham have enjoyed a brilliant campaign and are battling to pip Chelsea to Champions League qualification.
Chelsea have been pretty solid at the back, particularly since Tuchel's arrival, and have only conceded 25 goals so far - seven less than Manchester United.
But they could still use some of Rice's midfield generalship; he's taken his game up a level this term.
While Thiago Silva joined to strengthen the defence, he is 36 now and has struggled with injuries.
With Tuchel eager to play a three-man defence, they could be in the market for a new centre-back again this summer to replace the veteran Brazilian.
Will the deal be re-visited?
Those reports of club unrest at the idea of Rice signing paint a picture of a Stamford Bridge boardroom with little interest in doing any business with West Ham this summer.
Rice, meanwhile, has continued to shine in David Moyes' West Ham side, and has been ever-present for the Hammers, having played every minute of their Premier League campaign.
Rice has recently been linked with a move to Manchester United, and it seems the Blues could miss out on the 22-year-old.
However, they have plenty of players who they could part ways with in order to raise funds to meet Rice's asking price.
Ross Barkley, Emerson Palmieri, Tiemoue Bakayoko and Marcos Alonso could all make way this summer for decent money
Reports continue to link them with another new striker this summer, but a move for Rice would be much more worthwhile. However, that would involve the Blues board to swallow their pride.
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