Former Liverpool midfielder Danny Murphy has slammed Chelsea co-owner Todd Boehly this week.
The Blues splashed the cash on ex-Benfica midfielder Enzo Fernandez, signing him on deadline day for a club record fee.
With Chelsea set to pay Benfica 106.7 million for a central midfielder who is only 21, Murphy believes they have overspent.
Speaking on talkSPORT, he stated: "I think they are overpaying for players and I still don't think the majority of their first XI gets anywhere near [Manchester] City's team."
He added on Fernandez: "Not really. I watched a few of his games live. He's decent, but not worth 100million. They've been absolutely bent over there."
Murphy added: "He's a good midfielder, tenacious, young, gets on the ball and is brave.
"But he's not Rodri, not Casemiro. They are overspending on players and people are seeing them coming and they are taking their pants down."