The Blues have invested heavily at both ends of the pitch this summer, with Kai Havertz, Timo Werner, Hakim Ziyech and Ben Chilwell all arriving in big-money deals.
The latter two are currently out injured, while Havertz and Werner made their debuts during Chelsea’s 3-1 win over Brighton & Hove Albion on Monday night.
With huge finances put into improving the team, there have been suggestions Frank Lampard’s side could compete for the title alongside Liverpool and Manchester City.
However, Barnes has backed Chelsea for a top-four finish while also saying the arrivals of Thiago Silva and Chilwell are enough to bolster their backline, amid reports they could further strengthen in defence.
“Chelsea played well against Brighton, they’re a good side and play great football,” Barnes told Bonus Code Bets.
“I’m very impressed with both those players. Timo Werner is a quality player, with great movement. Kai Havertz is young and inexperienced, but you can see the ability that he has on the ball.
“Chelsea have made excellent signings, particularly with those two. They’ll need to be consistent, which was the main problem for Chelsea last season.
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“They (Chelsea) need to give these signings time to gel with the team. No one holds Chelsea to be title challengers, but I can see them finishing 3rd or 4th place with some consistent performances.
“They conceded against Brighton, but Brighton are a good side. Chelsea could have a better pair of centre backs than Andreas Christensen and Kurt Zouma, but with a hard-working midfield in front of them, they might not need it.
“Everyone wants world-class players in every position, and people may argue they need another centre-back, but I feel Chelsea will be OK defensively.”