The Board

[Atomiswave 6,072]

https://financialfootballnews.com/chelsea-fcs-2019-finances-sarri-ball-sorry-losses/

We fucking need CL footy theres no around it....the amounts we have pissed away on utter dross is fucking insane man.

[Atomiswave 6,072]

  

    

[Chelsea_firstlove 178]

8 hours ago, Atomiswave said:

  

    

So how much can we spend next summer?

[Atomiswave 6,072]

9 hours ago, Chelsea_firstlove said:

So how much can we spend next summer?

I couldnt make a guess really cuz I would most likley be off

[King Kante 1,302]

On 07/03/2020 at 3:46 AM, Chelsea_firstlove said:

So how much can we spend next summer?

I reckon £100m net, which gives us approximately £15m left over atm with Ziyech and Werner. In my opinion, most of our buys going forward will have to be funded by sales.

[Jype 6,398]

3 minutes ago, King Kante said:

I reckon £100m net, which gives us approximately £15m left over atm with Ziyech and Werner. In my opinion, most of our buys going forward will have to be funded by sales.

You're forgetting Morata and Pasalic sales. That's roughly 65m from sales of two players who've not even been a part of the squad.

So around 20m net spend after Werner and Ziyech. I'd think there's still enough money for a LB signing, but any other big transfers (ie. Havertz) would have to be covered by sales. One can only hope Marina is successful in selling the deadwood (Batshuayi, Barkley, Bakayoko etc.)

[Jase 43,479]

13 minutes ago, King Kante said:

I reckon £100m net, which gives us approximately £15m left over atm with Ziyech and Werner. In my opinion, most of our buys going forward will have to be funded by sales.

 

3 minutes ago, Jype said:

You're forgetting Morata and Pasalic sales. That's roughly 65m from sales of two players who've not even been a part of the squad.

So around 20m net spend after Werner and Ziyech. I'd think there's still enough money for a LB signing, but any other big transfers (ie. Havertz) would have to be covered by sales. One can only hope Marina is successful in selling the deadwood (Batshuayi, Barkley, Bakayoko etc.)

Even though we are in better place financially than some other clubs, I'd assume money from player sales would also be used to cover the losses suffered during this pandemic. Don't think it would be as straightforward as us selling Player X for XX million means we can use that to buy someone new. 

[Jype 6,398]

Just now, Jason said:

Even though we are in better place financially than some other clubs, I'd assume money from player sales would also be used to cover the losses suffered during this pandemic. Don't think it would be as straightforward as us selling Player X for XX million means we can use that to buy someone new. 

Of course. It's a well known fact the club's business model is heavily reliant in player sales even before COVID, and now even more so.

Last year's big sales and being transfer banned probably helped a lot here though. I'm not an expert but without the financial losses resulting from the pandemic the club would probably have posted a healthy profit this year, mainly thanks to Hazard sale and return of CL income.

Regarding FFP the club are fine either way. I read on Swiss Ramble that the 3-year rolling FFP result (with managerial sackings etc. excluded) from 2017-19 was £63M in the black, even with the heavy financial losses of the 2018-19 season. And there's some new leeway in the FFP rules due to the pandemic, which could help a lot.

The fees are amortised anyway so it doesn't make that much of an impact whether the club spends 100m or 200m but in this climate I don't think there's many clubs with that much extra money lying around their accounts so that's where sales like Morata and Pasalic help. Some of the income may go into covering losses on the books, but the money is still there to be spent and taking advantage of the market when others cannot sounds like a pretty good plan to me. The question is, how much Abramovich is willing to invest his own money this year? He can't cover excessive losses like he did pre-FFP or buff the club's finances with make-believe sponsorships like Manchester City, but if he's willing to invest capital into the club it would make new signings a lot easier.

[Atomiswave 6,072]

1 hour ago, Jason said:

 

Even though we are in better place financially than some other clubs, I'd assume money from player sales would also be used to cover the losses suffered during this pandemic. Don't think it would be as straightforward as us selling Player X for XX million means we can use that to buy someone new. 

We could if we wanted to or at least to a greater extent than believed cuz FFP has been lightened for a season

[King Kante 1,302]

1 hour ago, Jason said:

 

Even though we are in better place financially than some other clubs, I'd assume money from player sales would also be used to cover the losses suffered during this pandemic. Don't think it would be as straightforward as us selling Player X for XX million means we can use that to buy someone new. 

This is where I am at. Obviously the club have extra money for sales but operating income is going to be seriously down. Therefore, the 'extra' transfer income will go towards operating costs. 

[Jase 43,479]

4 hours ago, Jype said:

Of course. It's a well known fact the club's business model is heavily reliant in player sales even before COVID, and now even more so.

Last year's big sales and being transfer banned probably helped a lot here though. I'm not an expert but without the financial losses resulting from the pandemic the club would probably have posted a healthy profit this year, mainly thanks to Hazard sale and return of CL income.

Regarding FFP the club are fine either way. I read on Swiss Ramble that the 3-year rolling FFP result (with managerial sackings etc. excluded) from 2017-19 was £63M in the black, even with the heavy financial losses of the 2018-19 season. And there's some new leeway in the FFP rules due to the pandemic, which could help a lot.

The fees are amortised anyway so it doesn't make that much of an impact whether the club spends 100m or 200m but in this climate I don't think there's many clubs with that much extra money lying around their accounts so that's where sales like Morata and Pasalic help. Some of the income may go into covering losses on the books, but the money is still there to be spent and taking advantage of the market when others cannot sounds like a pretty good plan to me. The question is, how much Abramovich is willing to invest his own money this year? He can't cover excessive losses like he did pre-FFP or buff the club's finances with make-believe sponsorships like Manchester City, but if he's willing to invest capital into the club it would make new signings a lot easier.

 

2 hours ago, King Kante said:

This is where I am at. Obviously the club have extra money for sales but operating income is going to be seriously down. Therefore, the 'extra' transfer income will go towards operating costs. 

I said what I said because I have seen too many people posting the Ins and Outs and cost of players like they are nothing or we have nothing else to worry about. I know the FFP will be relaxed for one season and I haven't read all the details but am sure there's still a catch or two to ensure clubs don't go out of hand with their spending. We are fortunate that Roman is willing to use his own money to help the club but his wealth isn't bottomless and as you said, the sale of players will play an important part for new signings. But there is no guarantee that we will be able to sell all the deadwoods at this point of time, unless Marina lowers the asking price. Otherwise, I suspect we might see loan deals here and there instead. 

[Vesper 27,345]

On 22/06/2020 at 11:39 PM, Jason said:

 

I said what I said because I have seen too many people posting the Ins and Outs and cost of players like they are nothing or we have nothing else to worry about. I know the FFP will be relaxed for one season and I haven't read all the details but am sure there's still a catch or two to ensure clubs don't go out of hand with their spending. We are fortunate that Roman is willing to use his own money to help the club but his wealth isn't bottomless and as you said, the sale of players will play an important part for new signings. But there is no guarantee that we will be able to sell all the deadwoods at this point of time, unless Marina lowers the asking price. Otherwise, I suspect we might see loan deals here and there instead. 

this is what we are looking at in terms of sales

 £500 to £550m or so (it dicey to say exactly) worth of players here en toto (pre-COVID valuations are over £600m when you count every single one listed) but obviously not all can be sold in one window

We need to sell

Álvaro Morata (Done)
Mario Pasalic (Done)
Andreas Christensen (he has GOT to go and be upgraded upon, I would prefer both he and Zouma be sold, but that is not happening in one window unless we get 2 incredible buy deals tossed into our laps, which is so unlikely) I just do not see what Lamps sees in our 4 main CB's, they (and Kepa) make my tummy churn every game. Even Alonso has not done that for ages.
Ross Barkley (if we can get say £30m, 35m for him, he will never be worth more (well COVID maybe lowers that a bit)plus Bayer failed to get CL, then a Barks sale plus Havertz buy is only around £40m or so net spend)
Tiemoué Bakayoko  
Emerson
Michy Batshuayi
Davide Zappacosta
Danny Drinkwater  
Jorginho  (Juve need to cough up serious cash or work a swap deal involving de Ligt for Jorgi plus cash or maybe Emerson, which is a little steep from our angle as I rate those 2 as being worth £85m-ish and not sure if de Ligt is worth that atm, that is a shedload of money, but I think I would pull the trigger, as then we only need the less costly 
Abdul Rahman Baba
Victor Moses    
Kenedy   
Marco van Ginkel
Juan Familia-Castillo (as Ajax did not exercise their option to buy, or keep him and see if he can ever be a decent LB)
Nathan   
Charly Musonda Jr.    
Danilo Pantic  
Matt Miazga    
Lewis Baker   
Jamal Blackman
Lucas Piazón 
Jake Clarke-Salter
Izzy Brown
Josh Grant    
Richard Nartey
Luke McCormick    
Jacob Maddox   

 

We could sell 

Kepa    (not likely, especially due to crazy wages for the next 5 years and his £72m transfer fee, ie. how much are we willing to lose of that overall)
Zouma (sorry, he is shit too)
Marcos Alonso (only if we buy two LB's which is not likely this window, I am oki with him as a the backup as he is curveball option in certain types of games)   
N'Golo Kanté    (not at all likely apparently)
Olivier Giroud    (I would keep him)

 

Leave on a free

Willian   (unless he renews for 2 years, which he still says no way to, the prick)
Pedro  

 

we need a GK (just buy some decent backup if we do not want to splurge for Kepa actual long term replacement atm). 1 CB for sure, would prefer 2 with both Zouma and Ac shown the door, a LB, and Havertz (on so many levels, ie blocking Victimpool and Manure and Shitty and Bayern and Real), plus he takes pressure off in so many areas, even winger, as we are down to only 2 true wingers, plus Ziyech who may be need at limes as an AMF)

it is just a matter of selling the insane amount of dregs we are carrying on the books

[Jase 43,479]

 

[NikkiCFC 7,595]

2 hours ago, Jason said:

 

In this period we signed only Kovacic. Even if you add Pulisic 26m looks a lot.

[Jype 6,398]

19 minutes ago, NikkiCFC said:

In this period we signed only Kovacic. Even if you add Pulisic 26m looks a lot.

Contract renewals involve agent fees as well. During that time period there have been new deals for at least Mount, CHO, RLC, Tomori, James and Gilmour as far as the first team are concerned plus also plenty in the loan army / academy. 

And signing Lampard as manager surely had some agents involved too. Even so, the figure still seems high.

[Superblue 6,331]

8 hours ago, NikkiCFC said:

In this period we signed only Kovacic. Even if you add Pulisic 26m looks a lot.

There could be agent fees for selling players too. Not sure how common it is, but I can remember reading at the time that Pogba's agent got a big chunk of the fee due to Juventus when they sold him.

I wouldn't be surprised with agents if they take a cut at both ends of a deal.

[OhForAGreavsie 5,776]

59 minutes ago, Superblue_1986 said:

There could be agent fees for selling players too. Not sure how common it is, but I can remember reading at the time that Pogba's agent got a big chunk of the fee due to Juventus when they sold him.

I wouldn't be surprised with agents if they take a cut at both ends of a deal.

Deleted. @Jype already made this point above.

[Vesper 27,345]

Guy Laurence – the most important person at Chelsea you’ve never heard of

https://theathletic.com/1897045/2020/06/29/guy-laurence-the-most-important-person-at-chelsea-youve-never-heard-of/

How many senior football executives do you know who have beaten Bruce Willis in an arm wrestle?

Chelsea chief executive Guy Laurence doesn’t look like the man capable of doing something so extraordinary. He was once described in Canada’s Globe and Mail newspaper as a ‘British Tony Soprano’, but humbling the man who played John McClane in the Die Hard movies is hard to contemplate.

However, one of Laurence’s previous roles was working with Willis, plus Sylvester Stallone, Arnold Schwarzenegger and Demi Moore, as executive vice-president of marketing in Europe for their restaurant chain Planet Hollywood. Their paths, as well as their arms, definitely crossed.

This is just one of many fascinating tales about a man who has worked for some of the biggest telecommunications companies in the world and is now a key figure in the Chelsea hierarchy.  Yet so many know so little about him.

A phone call to a former Chelsea first-team player is telling. He has just been asked to provide any memories or experiences they have of this influential businessman. “Who?” they eventually reply. “He might have been at the games, but I wouldn’t be able to tell you what he looks like.”

One man certainly doesn’t speak for all., but although there are few people at Chelsea Football Club with a more important job right now than Laurence many of their followers would struggle to identify him.

This is a man who is following in the footsteps of Peter Kenyon and Ron Gourlay, who were employed in the same role under owner Roman Abramovich. Mention those names around the Fulham Road and you might quickly hear an opinion or two. Fans’ thoughts on Laurence might take a bit longer to find.

His predecessors were much more renowned and recognisable, albeit perhaps for the wrong reasons. Kenyon helped the club sign a lot of top players after arriving in 2003, but he also said things like Chelsea ‘will turn the world blue’ and become the biggest club on the planet. It caused them to be perceived, by people within as well as outside the game, as arrogant and brash.

Gourlay, though a more conservative figure, was at the forefront of the club’s clumsy bid to buy the freehold of Stamford Bridge from Chelsea Pitch Owners in 2011. The motion was defeated but a lot of supporters involved never forgave the Scot for the way the issue was handled.

Those that love the west London club may wonder why they should care about Laurence either. After all, he is part of the boardroom, not someone to get excited about, like, for example, new signings Hakim Ziyech and Timo Werner.

But the two are connected. Laurence is a key figure as Chelsea try to generate the revenue needed to be able to afford more big-name players in the transfer market while living within the confines of Financial Fair Play rules.

Chelsea’s last accounts, for the year ending June 30 2019, highlighted the issues at hand. Despite Abramovich providing another £247 million of his own money, the club reported a £96.6 million loss — their second-biggest deficit since 2003.

Influential director Marina Granovskaia has done her best to keep money rolling in from player sales. Kieron O’Connor, who runs Swiss Ramble, the respected Twitter account which specialises on reporting the business side of the sport, stated in January that no English club has raised more over the last six years than the £398 million Chelsea accrued from outgoings. Since then, they have brought in another £41 million and the next window has yet to reopen.

There is more of an onus to increase funds from elsewhere, but Chelsea are at a significant disadvantage regarding match-day revenue (when fans are allowed to go to games again).

Their last figures showed they made £67 million in 2018-19 — that is in stark contrast to Manchester United’s £111 million, Liverpool’s £84 million and Tottenham Hotspur’s £82 million.

Stamford Bridge, which is now just the 10th biggest ground in England at a capacity of just over 41,000, isn’t going to get bigger any time soon, with the project to redevelop it into a 60,000-seat arena still on hold.

Total revenue of £447 million for 2018-19 is good, but Manchester United’s return for the same period was £627 million, Manchester City’s £535 million and Liverpool’s was £533 million. Tottenham, who were once seen as not on the same playing field, are now ahead too on £460.7 million. You get the point.

Laurence was hired in January 2018 and has been busy trying to bridge that gap via the commercial side. This week, the new three-year shirt sponsorship deal with Three, a partnership a source describes as ‘being brought in very much on Laurence’s watch’, begins.

It is believed to be around the same figure, £40 million a year, Yokohama Rubber had paid for the privilege since 2015. It was seen within Chelsea as a triumph to negotiate such a high sum again, even more so now the world is reeling from the impact of COVID-19. The next item on the agenda is to get a company to sponsor their training kit.

Chelsea certainly feel they have the right man in place. Last season, revenue from commercial activities grew by £14.5 million, following the signing of several partnership deals including Hyundai, Vitality Health, MSC Cruises, Unilever, Beats by Dre and Millennium & Copthorne Hotels, plus increased revenues from online merchandise sales.

The competition to find more sponsors is going to be tough, but achievable.

Daniel Haddad, head of commercial strategy at sports marketing firm Octagon: “Chelsea are among the top 10 or so of elite clubs in world football. Being in London is a big positive for them but the other London clubs do cannibalise that market a bit — it’s not like Paris Saint-Germain, who have Paris to themselves. But they are still very strong commercially.”

One survey Chelsea have been privy to reports they have a global support of around 500 million (for perspective, Manchester United’s is deemed to be at 750 million), so the market is there. Chelsea believe they now have more supporter groups around the world than any other Premier League club and that Laurence has played a part in establishing that.

And yet the need to qualify for the Champions League on an annual basis — they are currently in fourth spot in the Premier League — remains vital.

Sports marketing consultant Tim Crow says: “Continuing that success is crucial to their commercial strategy, particularly the exposure and money that Champions League participation brings.

“In terms of how they’ve tried to differentiate themselves, they have always played the London card and pushed the whole King’s Road thing. But Arsenal and Spurs can play the London card, too, and both those clubs now have fantastic stadiums. Chelsea do have a commercial operation, it’s just that it’s slightly hampered by its relatively small fan footprint (with the stadium). That’s why the Champions League is so important for them, that’s what brings the eyeballs and reach a sponsor wants.”

But all this only tells part of Laurence’s story. It talks about the need for someone like him and the kind of results he can bring.

What the man is actually like takes a lot more investigating.

---

John McClane isn’t the only action hero Laurence has had an encounter with. Before locking arms with Willis, there were a few encounters with James Bond — well, the actor who played him at the time, Pierce Brosnan. That was when Laurence was helping promote and market films for MGM Studios.

If the Chelsea team aren’t able to make sweet music on the pitch, Laurence can always provide a fine tune instead. His family set up the famous piano-making firm John Broadwood & Sons (with the Broadwoods) in 1718. Among those to have played one of their instruments long before Guy was around to be on the board were Queen Victoria, and the famed composers Joseph Haydn and Wolfgang Amadeus Mozart.

Since working as chief executive for Vodafone UK and Rogers Communications in Canada, there have been many more anecdotes about what kind of boss he is to work for.

At Vodafone’s base in Berkshire, west of London, the hierarchical structure was removed. That meant even Laurence didn’t have an office or a desk to call his own.

It wasn’t left there. He gave a speech called The Death of Conventional Working in 2012, which can be found on YouTube, where he went on to explain: “We have a 100 per cent ‘clean desk’ policy. It means we take anything that’s left on the desk at the end of the day and we incinerate it that night, even if it’s pictures of your loved ones. It causes interesting conversations that one. The reason we do it is so that people don’t leave something on the desk that symbolically says ‘This is my desk’. That’s very important.”

Sources at Vodafone have told The Athletic that the threat to burn family mementos was never carried out. Someone had the job of gathering up items left behind, which were put in a box to be collected by their owners at another time. The message that no one could reserve a desk was ultimately received.

He was also keen on keeping waste to a minimum, so there was only one printer per floor and a list of the top 25 paper-users would be put on his desk every month. Laurence made it known that to be named on such a chart twice a year would be regarded negatively.

There are similar tales from his period at Rogers, a huge communications and media company. Once again, offices were ripped out for an open-plan feel. However, sources have insisted that while staff were encouraged to be tidy, desks weren’t cleared en masse like they were at Vodafone.

An article in Canada’s Globe and Mail detailing Laurence’s tenure told how everyone in the company was asked to connect with him on LinkedIn. On top of that, he kept a close eye on whether workers were reading his corporate blog. If they weren’t, emails were sent asking for an explanation.

He left after three years, with insiders suggesting he paid the price for clashing with family board members and not fulfilling expectations quick enough. Others say his manner was exactly what the company needed to freshen things up, but that his style just didn’t fit with the people who mattered.

This just serves as prologue to life at Chelsea. The Athletic have spoken to a number of sources at the club and the feedback has been very upbeat.

Cynics might think this is a piece the Chelsea PR department have had control over in order to provide a positive spin on things, but employees have spoken off the record and given honest feedback.

One insider, who has worked at the club for a number of years, says: “Guy is the most hands-on chief executive a lot of employees say they have worked with at Chelsea. He is very visible.

“For example, he is the first to hold town hall meetings with all the members of staff. There will be separate ones held for those who work out of Cobham (the training ground) and those at Stamford Bridge. He gives PowerPoint presentations to explain strategies and what the club are trying to achieve on the commercial side. Everyone is allowed to contribute and he will stay as long as there are questions to be answered. People feel more of a part of things and he makes it clear if there are any problems, we can contact him ourselves. His door is always open.”

Emails have still been sent out about the importance of cleanliness around the workplace but it doesn’t sound quite as intense a subject as at the previous employers mentioned above.

That is not to say there aren’t any areas where there is room for improvement. There are supporters who have found Laurence rather dismissive of their concerns when they are raised at the Chelsea Fans’ Forum, which he co-chairs with Bruce Buck.

He is viewed with some suspicion. There is a sentiment that he only cares about the brand and the next sponsorship deal, rather than the match-going fan. In truth, you will find this dynamic between supporters and those hired for their business acumen at clubs up and down the country.

A damning article written by David Chidgey for the CFCUK Fanzine expressed some of the sentiment: “Since Laurence’s arrival just over two years ago we have seen a plethora of crass decisions betraying a fundamental lack of understanding of supporters which borders on contempt. An increase in vacuous marketing executives tasked to sell us ‘Brand Chelsea’ both here and more important globally.

“These are the geniuses behind such slogans such as ‘Thrilling Since 1905’ (this was written for everyone to read in bold letters on the West Stand — it has been taken down this season). You can add the disastrous Nike Megastore masquerading as a club shop to this egregious list and now the farce over the ‘dynamic pricing’ strategy.”

The latter was the term used to explain why prices for the FA Cup fifth-round tie against Liverpool in March was increased by 33 per cent to £40. This was a 33 per cent increase on the last time they’d played at home in the competition, against Nottingham Forest of the Championship in January. The club seemed to be trying to capitalise on a sexier draw because their ticketing policy announced at the start of the season said FA Cup admission would cost £30.

As Chidgey added: “This season’s ticketing policy for FA Cup games moved from a category-based system to being set on a case-by-case basis. On investigation, the club apparently called this change of strategy ‘dynamic pricing’ within the ticket policy, whereby they can change prices whenever they like.”

There was quite a backlash, including a strongly worded statement by the Chelsea Supporters Trust. It is understood Laurence accepted he had made the wrong call and reduced the price to £30 again. However, you get the impression the initial hike is what will linger most in people’s minds, rather than the U-turn.

Chelsea will argue this is a sign he does care about their complaints, along with the fact he is meeting people to hear their concerns in the first place. Then there have been things such as revamping what used to be available for younger followers via Bridge Kids into a better programme called Junior Blues.

But you get the impression those he has encountered will take some winning over. There is a perception among some that he sees the mainstay of support as interchangeable — that if fans have had enough and go elsewhere, someone else will simply come along and take their place. People don’t feel valued as fans or even necessarily as customers.

Meanwhile, chairman Buck is regarded by others in a more positive light because he has a lighter touch when talking to them and gives them more of an impression he’s listening.

In truth, it sounds like this is just the way Laurence can come across sometimes when he interacts with people about serious matters. During meetings with staff, he will soon interject if he feels enough has been said and a resolution has come to mind. As one insider described it ‘he likes to get to the point. That doesn’t mean he’s a bully and isn’t listening. But he is good at cutting across the chatter. On the other hand, if an expert knows best he will back them.”

Another negative levelled against Laurence is that he isn’t a lover of the game. Unlike Kenyon and Gourlay, there are no images of him in a box at the stadium reacting to goals going in or walking into the dressing room afterwards to talk to the players.

Laurence does go to home games, but won’t tend to be around the playing staff, because match day is a great opportunity to meet people and make contacts. After all, as explained above, his primary purpose is to bring more money in.

However, readers shouldn’t get the wrong idea here, either. He regularly attends Chelsea Women’s games and is seen cheering them on. Laurence has been actively looking for ways to support and promote the women’s team. Indeed, a film crew from Fulwell73, the makers of Sunderland ‘Til I Die, have been commissioned to put a documentary together for Emma Hayes’ title winners.

Laurence (third from left) with members of the men and women’s teams at a sponsor unveiling

Laurence was also behind Chelsea TV being taken off Sky TV in 2019. The club’s three-year contract was coming to an end. It cost them around £1 million a season to broadcast. At its height, there were around 35,000 subscribers.

It was Laurence who argued that their global fanbase would be far better serviced with an app. That £1 million fee given to Sky has now been invested in-house and the content, which is available on-demand, has improved markedly. The Fifth Stand App now gets millions of downloads, and it is thought even Abramovich is taking an interest in what is put together.

The app also acts as a revenue stream. Packages are created and businesses are approached to see if they would like to be part of a segment or series of segments. It means they don’t have to necessarily commit to a long partnership, but for just a month or two if they wish.

Laurence’s responsibilities were already vast, but they have increased in recent months with commercial director Chris Townsend leaving to help the UK government with their shielding programme for COVID-19. He is relishing the challenge of revamping that department.

Another insight into just how influential he has become is the fact he has rewritten the core values the club and their staff stand for. This kind of mission statement-speak may not appeal to the general public, but it is commonplace at any major business, let alone football club.

Laurence has replaced what was in writing before at Chelsea with these six phrases that all employees should strive for and hold each other to account to abide by.

They are, with a brief summary of the explanation given to personnel included:

Here to Win — “Our pursuit to be the best is relentless, and it’s our drive and determination that helps us win both on and off the pitch.”

Be brave — “Real innovation happens outside your comfort zone.”

Do the right thing — “Football isn’t just a game for us, it’s a force for good.”

Play your part — “We’re footballers. We’re accountants. We’re marketeers. We’re creators. But most importantly we’re winners who play our part in driving the business forward.”

Many teams, one club — “There are many teams that help us get to the top, but we’re stronger when we work together.”

Proud to be Chelsea — “From our work ethic to our inclusiveness, we’re proud to say we’re part of something bigger.”

It has been suggested he does more work than any chief executive would be expected to do at a top-six club, even though it is Granovskaia in charge of the football side of things.

With a marketing team numbering around 80-strong and a commercial department of about 50, Laurence has a lot on his plate. Yet he will be across what some may consider menial tasks, such as what the ground should look like for a behind-closed-doors match or the order in which club partners should appear on the backdrop that stands behind Frank Lampard and his players during interviews.

If the groundsmen at the training ground require a new sprinkler system or lawnmower to cut the grass, Laurence is the man who will give the final say-so as he is in charge of the budget.

More revenue opportunities, which he has been behind, will be launched in July and there are others to come. A lot of difficulties remain. Laurence’s name will never be sung from the stands, but he has the strength of will to get the job done.

Just ask Bruce Willis.