While Raheem Sterling’s bank balance was boosted by his unhappy spell at Chelsea, the professional cost has been huge. The winger’s career has nosedived since his departure from Manchester City three and a half years ago. Sterling was hailed as a marquee signing when he joined Chelsea in the summer of 2022 but there was no place for him inside the tent by the time an agreement was finally reached to end his £325,000-a-week contract by mutual consent on Wednesday.

The decline has been sad to watch. There was excitement when Sterling became the first player to join Chelsea after the Todd Boehly-Clearlake Capital takeover. He had won four Premier League titles with City and had undoubted pedigree. Thomas Tuchel wanted his threat in the final third and much was made of Sterling, who grew up near Wembley, returning to London when Chelsea signed him for £47.5m.

Yet the homecoming soon turned sour. There was the brutal dismissal of Tuchel at the start of the 2022-23 season. The ownership had overseen a wild first window. Boehly acted as interim sporting director and big contracts were handed out to ready-made talent. Soon there was a shift in transfer policy. Boehly’s influence waned and Behdad Eghbali, the co-owner of Clearlake, a US private equity firm, assumed greater control. The focus was on signing young talent on incentivised deals.

It meant that Sterling’s face no longer fitted. He struggled for form and fitness after the appointment of Graham Potter as Tuchel’s replacement. There was surprise when Potter tried Sterling as a wing-back. Chelsea, short of stability, sacked Potter and finished 12th.

There had been whispers that they were willing to sell Sterling. He enjoyed a brief resurgence after the appointment of Mauricio Pochettino in July 2023 but it was not sustainable. Sterling was in and out of the starting lineup. His 81st and final appearance for Chelsea came when he scored in a 2-1 win over Bournemouth at the end of the 2023-24 season.

It was Sterling’s 19th goal for Chelsea. It was an acceptable enough return but Chelsea wanted his wages off the books. Enzo Maresca replaced Pochettino, left Sterling out of the squad for his first match and made clear that the former Liverpool player was not part of his plans.

The problem, though, was finding a suitable workaround. Sterling was thought to be reluctant to leave London for family reasons and his wages made it difficult for potential buyers. Anyone buying Sterling would be taking a risk. It looked as if he had lost a crucial yard of pace when he toiled during a loan at Arsenal last season.

Sterling was not the same player without that burst. He was in limbo when he returned to Chelsea last summer. There was never any prospect of Maresca welcoming him back into the fold. However, it is questionable whether Chelsea’s approach was constructive. There is an argument that they could have maintained Sterling’s value by keeping him around the squad and using him as a rotation option. Instead, he continued to train on his own. It was a lonely, undignified existence for one of the most successful players in recent Premier League history. Plenty of people will hope that Sterling can find something that suits him now that he is a free agent.

This is a player who used his position to become one of the leading voices in the fight against racism. Sterling was awarded an MBE in 2021 and he was one of the key figures in Gareth Southgate’s England revolution. Sterling helped England reach the semi-finals of the 2018 World Cup and scored three goals during their run to the Euro 2020 final. However, even his international career ended unsatisfactorily. He has not added to his 82 caps since coming on as a late substitute during England’s quarter-final defeat by France at the 2022 World Cup.

There is a sense that the miles on the clock have slowed Sterling. He made his debut for Liverpool in 2012. He is 31 and has not played this season. Clubs who have looked at him have not been convinced. Interest from Fulham and West Ham has not progressed. “Raheem is very strong, but he hasn’t played for a long time,” Giovanni Manna, Napoli’s sporting director, said on Wednesday. “We spoke to him over the summer, but I don’t see it as a good thing for now. He has significant financial expectations.”

Sterling’s departure is said to represent a sizeable financial saving for Chelsea. His contract, which had 18 months left, has not been paid up in full. It was time for a clean break. Sterling is too young to retire. He is probably done at the highest level but there will be managers who will back themselves to revive him.

Sterling has not ruled out leaving London. He is open to moving abroad. Whatever comes next, though, will have to be right for his family. Sterling has had to deal with two burglaries at his home since joining Chelsea. His son, Thiago, is in Arsenal’s academy.

Ultimately, this is a story without any winners. Chelsea’s investment backfired. Sterling made money but spent too long on the sidelines. Now he needs to make up for lost time. He will hope it is not too late.