Blues feeling the pinch

11 November 2008 07:51
Chelsea chief executive Peter Kenyon does not believe Luiz Felipe Scolari will be signing any new players in the January transfer window. The current Premier League leader's owner, Roman Abramovich, has endured massive losses during the current economic downturn and the Blues look set for a period of belt-tightening. Kenyon said: "I've said before it's extremely unlikely we'll spend in January and increase our squad. Luiz Felipe Scolari is on board with that. He has an excellent squad and he's doing a great job. "We'd have to sell someone if we decided to bring someone in to balance that situation, but at this stage we aren't planning to bring anyone in. "Roman Abramovich's a good businessman. He's a sensible businessman. He's passionate about football. "His commitment to Chelsea is no less than it was eight weeks ago or pre the financial meltdown. "It's always been his and our objective that Chelsea becomes much more self-sufficient and less reliant on borrowing from the banks or borrowing from him. "That's the right thing for Chelsea in the long run. It's about looking at things in the long term. Our job is to make sure we're well equipped for another 100 years. "Whatever's happening in the world, there's no better security than the club being profitable and not needing mountains of debt to support your activities. "That's always been the objective since the five years we've been together. This year we should require neutral requirement for funding from him - that's stage one. "And then, in 2010-11, be profitable. After the investments he, and we, have made from the point of view of facilities, training academy and players I think that's a good achievement and it's the right objective. "And now is the time, having made those investments, to start to get that investment back."

Source: ESA