Chelsea caution despite £50m deal
However, chief executive Peter Kenyon revealed the club would still limit their summer transfer spending to at most three new players. Not that the Blues are exactly within a financial straightjacket, given that they have just raised £50 million over the next five years from electronics firm Samsung.
The deal eclipses Manchester United’s four-year contract with Vodafone, which is worth £36 million, as well as Arsenal’s new tie-up with Emirates from next season.
Samsung will take over from Emirates, whose current deal with Chelsea is worth £4m a year, on June 1, with the blue and white logo ‘Samsung Mobile’ on shirts for the club’s centenary season. And with a lucrative shirt deal with adidas already secured, Chelsea’s sights are firmly trained on United’s position as the world’s richest club.
Kenyon declared: “Our objectives are pretty clear. We have a 10-year vision for the business, which is based on Chelsea becoming the top football club in Europe and the world. That is based on success on the field around which we can build our business activities.
“In our last financial results, we demonstrated that we can grow the revenue part of the business, which increased by more than 40%. This announcement is a further step in building a business platform that enables us to be the best on the field and the best off the field.”
In the most recent rich list of European clubs, Chelsea had moved to sixth place in income terms, even though they made a huge loss after massive transfer spending, and further rises were anticipated.
Kenyon is nevertheless committed to breaking even within five years and becoming less reliant on Roman Abramovich’s millions.
With that in mind, Jose Mourinho is expected to sign only a handful of players this summer, while others, such as Hernan Crespo, Juan Sebastian Veron and Geremi, are set to be released.
Kenyon added: “Clearly, we’ve spent a significant amount of money on players in the past 18 months. Last close season, we spent less than the season before and this close season, we’ll spend less again. There’s been an up-front investment in the squad but the average age is 25 and the squad is now 24-strong.
“The parameters of our cost base have been set, so it’s about being in the transfer market for the right reasons. I don’t think you’ll see more than two or three players coming in. That becomes part of a natural cycle that you go through. It’s more about the team ethic, not about one or two iconic players.”
Mourinho himself can also expect to be rewarded for the immense strides taken by the club over the past season, with a new contract set to be agreed this summer.
“It’s ill-founded to suggest that Jose Mourinho will not be with us for the long-term and I think that will be corrected,” revealed Kenyon.
“His age, his success, his experience and what he and the team have achieved this season are all remarkable. I think we’re going to be partners for a long time to come.”
Meanwhile newly-crowned PFA Player of the Year John Terry is preparing himself for another tough encounter with some of the men who voted for him when Chelsea take on Liverpool in the semi-final of the Champions League tomorrow night.
The Blues captain finished ahead of his team-mate Frank Lampard and 2004 winner Thierry Henry.
Terry said: “I think Liverpool maybe have a little advantage being at home in the second leg, they have got great support with the Kop and their other fans behind them, it is going to be a great night for everyone.”
And Terry reflected: “Winning the Champions League again would be very special for the manager. It would be great for him to win it in consecutive seasons.”
The PFA Young Player Award went to Manchester United’s Wayne Rooney, while Portsmouth goalkeeper Shaka Hislop received the PFA Special Merit Award, following his role in helping to found, and continued involvement with, the ‘Show Racism The Red Card’ initiative.
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