The Blues have long had little to play for after a nightmare first full year under the Boehly-Clearlake regime.
Graham Potter was sacked only months into a five-year contract after the club made the controversial decision to depart with popular former manager Thomas Tuchel.
With Potter failing to get the most of a squad to have seen £600m spent on it over the last few transfer windows, club legend Frank Lampard was drafted in on an interim basis.
Lampard, however, has lost all five of his games in charge thus far as Chelsea continue to chase Mauricio Pochettino.
The former Tottenham boss is widely expected to become the third manager since the change of ownership after impressing in talks with the club’s hierarchy.
Still, Pochettino has a number of issues to work out, particularly with the team performing so poorly in recent weeks.
Speaking to Sky Sports, Merson said: “I’m not exaggerating here, this is the worst run in the history of football.
“I know people go ‘some teams have gone 25 games without a win in the lower league’ but not with talent like that.
“When you’ve got talent like this who are top international footballers and they’re on a run like this I would have to say it’s the worst run in the history of football for the talent they have.”