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Tuesday December 2, 2008

Chelsea to become self-funding

Chelsea Football Club aim to be self-sufficient from next season, ending their reliance on the billions of their owner Roman Abramovich. "The Russian oligarch has ploughed almost £600m into the club since June 2003, but despite the bleak global economic environment, chief executive Peter Kenyon believes they can cut costs and raise revenues enough so that there is no new funding requirement from Abramovich after the current financial year. Chelsea would then hope to break even in terms of their operating figure by 2010-11," writes Jeremy Wilson in the Daily Telegraph. Kenyon also dismissed rumours that Chelsea striker Didier Drogba, currently suspended for throwing a lighter at Burnley fans during a League Cup tie at Stamford Bridge, would be leaving the club during the January transfer window.

FIRST POSTED DECEMBER 2, 2008

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