Chelsea have spent billions of pounds since Roman Abramovich took control of the club in 2003.

The Russian owner has elevated the team to an elite level and the Blues have won the Premier League, Champions League, FA Cups and more under his rule.

You don’t reach the top without shelling out big fees for players and Chelsea’s squad is now one of the most valuable in the English top flight.

Antonio Conte is the new man in charge at Stamford Bridge and will undoubtedly be weighing up whether to cash in on a few of the players who under-performed last term.

But how much are Chelsea’s players really worth?

To find out, GetWestLondon have contacted Swiss sports economists CIES Observatory to get an expert opinion on the size of the fees Conte could expect to rake in.

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The values are sure to be controversial but they are objective.

CIES’ methodology involves a metric that takes into account age, performances, experience, international status, contract length, position and the performances and level that Newcastle have been playing at.

Before anyone scoffs at their working, CIES claim that “since the 2013 summer transfer window, the correlation between values estimated by our algorithm and the sums actually paid for the recruitment of big-5 league players has been close to 80%”.

CIES added in a report this month: “The strength of this correlation shows that, on one hand, the footballers’ transfer market is rational and, on the other, that its rationality has been well understood by the econometric model developed by the CIES Football Observatory academic team.”

Eden Hazard - £61.25m (€78.3m)

Chelsea’s leading light in 2014-15 faded badly last season and his value has gone southwards with those performances.

Eden Hazard would still command a big fee if he was to move this summer but the indications are he will be sticking around to rebuild his reputation.

Willian - £39.74m (€50.8m)

Willian was a beacon of light in a season of darkness at Stamford Bridge last term.

His work-rate and enthusiasm helped Chelsea steer clear of the relegation zone and earn him admiring glances from Europe’s top clubs.

Diego Costa - £38.7m (€49.6m)

The Brazilian-born Spanish striker did not match the heights of his first season scoring just 12 goals last campaign.

Linked with a move back to Atletico Madrid this summer his value has continued to rise since Chelsea parted with £32 million in the summer 0f 2014.

Thibaut Courtois - £37.8m (€48.4m)

Chelsea's number one spent the first half of last season on the injury list but his value has continued to rise since he rose to prominence during his spell in Madrid.

The Belgian shot stopper will be representing his country this summer and rumours are emerging that Real Madrid are circling over the 24 year-old.

Cesc Fabregas - £35.7m (€45.7m)

The former Arsenal man turns 30 next year but as is his dominance in the middle of the park that he would still command a hefty fee.

His assists record in the Premier League puts him up there with the best and his passing ability and vision maker him one of Chelsea's prized assets.

Pedro - £33.5m (€42.9m)

The former Catalan star failed to live up to expectations in west London despite starring on his debut at the start of the season.

He scored seven goals in his first campaign with the Blue's and will be eager to prove his worth under new boss Conte.

Nemanja Matic - £29m (€37.2m)

Matic rejoined Chelsea in 2014

Comfortably the best holding midfielder in the league when Chelsea won the title in 2015 under Jose Mourinho.

Last year however was a struggle for the Serbian and there is talk of him angling after a reunion with Mourinho at Man United.

Oscar - £28.9m (€37m)

The 24 year-old appears a man constantly threatening to realise his full potential but as of yet has failed to do so.

He has shown glimpses of Brazilian magic but will hope this season gives him the chance to finally stamp his authority as Stamford Bridge's orchestrator in chief.

Kurt Zouma - £20.5m (€26.3m)

Chelsea's young player of the year in 2015 was well on his way to establishing himself as a first team regular before injury hit last season.

He will return under Conte and look to assert himself as the club's new defensive leader with John Terry coming into his final year.

Cesar Azpilicueta - £19.5m (€25m)

The Spanish full-back has proved a strong purchase since his move from Marseille in 2012.

His work rate and defensive capabilities and made him an integral member of Chelsea's defence over the years.

Kenedy - £16.2m (€20.8m)

Last summer's recruit from Brazilian side Fluminense found his first team opportunities limited in the first season, although he did score the one goal.

He will hope the new manager at Chelsea gives him more of an opportunity to prove his worth so that he is not deemed a flop at the Bridge.

Gary Cahill - £15.72m (€20.1m)

Gary Cahill recently put pen to paper on a new three-year contract at Chelsea and we reckon that is largely why he is valued so highly.

A mainstay of the England side, the former Aston Villa youngster still has a few seasons left in the tank.

Baba Rahman - £12.98 (€16.6m)

A major disappointment after his big-money move from the Bundesliga, Baba Rahman has a lot to prove next season.

That’s if he stays at Chelsea, of course, with clubs in Turkey keen to sign the full-back this summer.

Ruben Loftus-Cheek - £12.36 (€15.8m)

Chelsea’s first real academy graduate since John Terry.

A towering totem of power and passing, Ruben Loftus-Cheek’s stock will continue to rise for years to come.

Bertrand Traore - £10.72 (€13.7m)

A decent enough amount of money for a player who is just starting to make inroads into the first-team setup.

Chelsea won’t sell the Burkina Faso international as they regard him as one of their hottest prospects.

Asmir Begovic - £7.59m (€9.7m)

Asmir Begovic played more football than he would have been expected last season following an injury to Courtois.

He showed he is a capable deputy but little more than that, with his valuation reflecting his backup status.

Matt Miazga - £6.65m (€8.5m)

American defender Matt Miazga was purchased from New York Red Bulls on January transfer deadline day.

It was a surprise signing by Chelsea and one that will help them grow their support across the pond.

Loic Remy - £6.4m (€8.2m)

Loic Remy has had to settle for a backup role since joining the Blues.

The former Newcastle and QPR star is widely expected to leave with the likes of Romelu Lukaku and Alvaro Morata being linked with a move to west London.

Branislav Ivanovic - £5.71m (€7.3m)

Kept his place in the side for most of last season despite some poor performances from the Serbian.

Branislav Ivanovic was awarded a new one-year extension but will have to do more to bag himself another one next summer.

John Obi Mikel - £5.48m (€7m)

John Obi Mikel was brought back in from the cold under Guus Hiddink but is not expected to command a spot in Conte’s plans.

The Nigerian has already stated his desire to move on unless he is allowed to continue as a regular starter in the first-team.

John Terry - £4.3m (€5.5m)

He could have left for nothing in the summer before Chelsea made a dramatic U-turn and offered him a new deal.

Terry remains more than a player to the club’s fans. He is a symbol, an icon and a leader on the pitch.

Jake Clarke-Salter - £3.91m (€5m)

Touted as the club’s long-term replacement for skipper Terry, Jake Clarke-Salter has been tipped for greatness.

Even Terry himself has backed the young gun to fill his shoes when he eventually quits the game.

Fikayo Tomori - £2.82m (€3.6m)

Solid defender who once broken Costa’s nose during a robust challenge in a training session.

The Canada-born youngster has a lot of competition for places as he looks to break into the side.

Tammy Abraham - £2.35m (€3m)

Handed his Premier League debut by Hiddink towards the end of last season, Tammy Abraham is a player with a bright future.

A prolific goalscorer at youth level, Abraham could head out on loan next season to gain more regular first-team experience.

Total value of the Chelsea squad

Whack all of those values into a calculator and the total value of Chelsea’s squad comes in at £458m.

There is sure to be one or two additions and departures to the squad this summer though, so the numbers will change all of the time.

We used a currency exchange rate of €1 to £0.78 when converting the original Football Observatory figures into British currency.