Chelsea Admit Their Financial Targets Were Too Ambitious

[the wes 7,212]

Chelsea chief executive Peter Kenyon has revealed that the club will not reach their target of breaking even by 2010, according to The Mirror.

The Premier League side had set next year to balance the books at Stamford Bridge, but they have now admitted that this goal was too ambitious.

Roman Abramovich said, when he bought the club in 2003, that they should be self sufficient by 2010, but this will not be happening any time soon.

However, a Blues spokesman said that they have high hopes of coming close to achieving it.

Speaking to The Mirror, the spokesman said, "It was always an ambitious target and the likelihood of hitting it is not great. But the aim is to get close to it."

This statement may mean that the club will have to sell their players in order to raise revenue, with Ricardo Carvalho currently being trailed by Italian giants Inter.

Other players who could be heading for the Chelsea exit door are Deco, Juliano Belletti, Branislav Ivanovic and Salomon Kalou.

The sale of these players would greatly diminish the club's huge wage bill, as well as bringing in some money in transfer fees.

New Blues boss Carlo Ancelotti has been promised a big transfer budget, with the former AC Milan coach rumoured to be targeting the two Brazilian stars, Kaka and Alexandre Pato.

[Term-X 7,891]

we need to give Ancelotti the chance to bring in new players

allthough we should have been in a champions league final this year and with the contract pay off's to managers like mourinho & scolari to leave the club i'm not suprised about this.

[warnie_666 1,081]

Missing out on Premier league and Champions League 2 seasons back, cost us. We havent won anything major in last 3 seasons. Add to that the huge Contract Payouts handed to Scolari, Grant and Jose Mourinho. That has cost us our Financial Targets.

[zolayes 14,489]

another brilliant analysis by the mirror ...alice thro the looking glass

[SystemBlueBob 0]

Breaking even doesn't bother me

As long as we are continuing to head in the right direction TOWARDS it, I will be happy

Things like this take a LOT of time and depend on a LOT of things that can change thus making it incredibly difficult to do

[Aesthetic Relic 301]

Realistically, the majority of Chelsea fans seen 2010 as a bit if a pipe dream. It was never going to happen.

[EskWeston 696]

Roman clearing out half of the loan to him was a huge step in the right direction for us. There will come a time soon where he will clear the rest too. Then we will be in an extremely strong position. The club financially are moving in the right direction. It was a big job to take us up to the level where we are and wanted to be and it needed money thrown at it.

Now we are levelling things out more and the wage bill will come down also as i am sure we have learned our lessons.

[Badboy 1,526]

Roman clearing out half of the loan to him was a huge step in the right direction for us. There will come a time soon where he will clear the rest too. Then we will be in an extremely strong position. The club financially are moving in the right direction. It was a big job to take us up to the level where we are and wanted to be and it needed money thrown at it.

Now we are levelling things out more and the wage bill will come down also as i am sure we have learned our lessons.

Were do you think we would of been without roman and his cash. We were progressing as a club before roman dont forget.

[EskWeston 696]

Were do you think we would of been without roman and his cash. We were progressing as a club before roman dont forget.

Yes, we were also having massive financial problems, and had we not found a buyer then there is no telling what would have happened. Who knows what would have happened if Roman hadn't taken over. Someone else would have done i am sure. One thing is for sure and that is no matter what anyone outside this club says Roman has been excellant for this club.

[NattyBlue 44]

yes he has

Our major problem as of late is the high wages we have for our players, I don't know why there was so much talk about us spending big this summer when kenyon said earlier this season that we're not buying without selling.

Fair enough ancelloti should have some players that he wants but if he wants to bring in the likes of Pirlo then that's a no go.

Kaka was never going to happen and pato would be worthit though, for about £22 mil

[zolayes 14,489]

Were do you think we would of been without roman and his cash. We were progressing as a club before roman dont forget.

that year ( BR BEFORE ROMAN ) the vultures were circling to take our best players in a fire sale ...

without roman we could have been leeds part 2

[jerryballoono 0]

that year ( BR BEFORE ROMAN ) the vultures were circling to take our best players in a fire sale ...

without roman we could have been leeds part 2

Yes I must admit I feared the club was about to go into freefall just before Roman stepped in, without him the future looked bleak.

[SystemBlueBob 0]

The Club was in bad shape before RA but I don't think it was close to the end for us (as in, a fire-sale around the corner)

He has helped tremendously but he took an approach not followed too much in the football owner business....and it has worked

I always get a kick reading an article or two about how bad we are financially when the author probably has not the slightest clue about debt management

[Elliott 7]

Were do you think we would of been without roman and his cash. We were progressing as a club before roman dont forget.

We went as absolutely far as we could to be honest, with the financial problems we had. £100million in debt. We really could've done a Leeds.

[Wxgba 306]

2010 was always an unrealistic target to break even, but if they're getting further towards breaking even, then that's alright.

So long as the club isn't keeping on going further and further in debt, I think we'll be alright.

[Badboy 1,526]

We went as absolutely far as we could to be honest, with the financial problems we had. £100million in debt. We really could've done a Leeds.

A bit like everton we were punching above our weight yes thats true. 100 million in debt would of sent us down im sure. Man utd are 700 million in debt do you think they can handle that ?

http://www.telegraph.co.uk/sport/football/...ord-season.html

[warnie_666 1,081]

We definately would have found a buyer. Ofcourse he wouldnt have been as lavish as Roman has been for us.

The thing that happened with Leeds was that, they brought a lot of Loans from Banks with the hope that they would get alot of revenue from Champions League and TV Rights. they failed to qualify and all of a sudden they were doomed.

On other Hand, the reason why I say we would have found a buyer was because WE QUALIFIED FOR CHAMPIONS LEAGUE....And we Hit the Jackpot with Roman. Had we finished 5th, we would have gone the Leeds way. FOR SURE.

Thats one of the reasons, Roman sacked Scolari who is now managing a Club in Uzbek .

We would have been doomed financially had we not qualified for Champions League.

[SempreJuve 62]

what are your players wages a year?