Chelsea is the 4th favorite of the bookies compared to other teams because they made such a big overhaul? Maresca being the new coach there may still be hope for change, but still not sure Chelsea will do it significantly.
Yeah, I also think it is a big surprise that Chelse is the fourth favorite considering their performance last season. I'd put Tottenham or Aston Villa at the fourth based on last season placements. Transfers do change things but they have a bumpy transfer records IMO. Not sure if their transfers will massively improve their performance even if they do well in pre-season. Even Liverpool do quite well but their odds are still lower compared to Arsenal, so who knows if the numbers will change significantly latter. CMIIW.