The Blues have been busy this summer, bringing in Raheem Sterling, Kalidou Koulibaly, goalkeeper Gabriel Slonina and most recently Carney Chukwuemeka from Aston Villa.
However, the west Londoners have missed out on several targets, with Leed's United winger Raphinha and Sevilla centre-back Jules Kounde both joining Barcelona.
Boehly previously relieved Bruce Buck, Petr Cech and former sporting director Marina Granovskaia of their duties, with Neville believing it to be a bad move by the American.
The pundit also says the Blues are now lacking direction, and insists pressure is starting to grow on the owner who is 'panicking' in the transfer window.
"The American guy [Todd] Boehly, looks like he wants to play Football Manager," Neville said when appearing on Sky Bet's The Overlap.
"He's wandering around a little bit and they're a bit panicky now. They're almost like bouncing around because it feels like he has to do something.
"You're wondering, 'Oh they're coming in for [Frenkie] de Jong this morning', because he feels like he has to do something, that pressure is on him.
"He wouldn't have had that pressure if he'd have kept the people that have been there before and just let them operate for a year or two, but it'll be an interesting season for Chelsea."
The ex-United defender also went on to say he sees a similar pattern between Boehly's policy and that of former Manchester United chief executive Ed Woodward.
Clubs like Manchester City and Liverpool have been completing their deals behind the scenes, a similar approach to Chelsea in the past when Granovskaia was at the club - an example being Eden Hazard from Lille.
"I'm hearing his [Boehly] name too much," Neville added.
"It feels like, it's not to be disrespectful, you know he's a prominent guy, he's just bought the club and everything.
"He's fronted a fund that's paid two and a half billion quid, but to get rid of all that football operation that's been unbelievable for that many years and come in and do it yourself, it does feel like Ed Woodward that to me. We'll see it develop.
"I mean, look, let's be clear, firstly - they're [Chelsea] reacting to what's available and what other clubs are doing.
"You look at what Manchester City and Liverpool are doing, [Txiki] Begiristain at City is their sporting director. Some people might not even know that.
"Some people do know that, but some people never even hear him, never even see him but they get their business done quickly and efficiently.
"When clubs are working well, you don't hear who's signing the players, you just sign them.
"Chelsea have got that sort of, Manchester United under The Glazers, Ed Woodward, 'I'm taking over, I'm the man now, I'm going to go out and basically buy the players', and then they're linked with every player that Barcelona want, every player that City want, every player that United want."
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