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Last Updated: Sunday, 29 January 2006, 11:28 GMT
Roman unfazed by losses - Kenyon
Chelsea owner Roman Abramovich
Abramovich has seen Chelsea's losses increase to 140m
Chelsea chief executive Peter Kenyon said owner Roman Abramovich was not concerned by the club's record 140m loss for the year ending June 2005.

"He's fully aware of where we're going in the long-term and fully aware of the stages in the short-term," Kenyon told BBC Radio Five Live.

"It's not a question of one day walking into the office and saying 'oh by the way we're just posting a 140m loss.'

"He's aware of the progress of the business and football club."

Chelsea's losses of 140m, announced on Friday, were the biggest in football history.

if Mr Abramovich left - which he has no plans to do - then there would be no panic
Peter Kenyon
Kenyon insisted he was not alarmed, saying a "series of exceptional one-off items" were behind the figure.

"What matters is that there's a point in time where Chelsea are self-sufficient," added Kenyon.

"I think it matters as he's a good businessman, he's a passionate supporter of Chelsea and we think that being recognised as one of the top football clubs is success on the field and success in business."

Kenyon said Chelsea hope to break even by the 2009-10 season but insisted that the Blues were on a sound financial footing - even if billionaire Abramovich were to leave the club.

"There are no plans for Mr Abramovich to sell Chelsea," he said.

"The plan is that we get to break even then, clearly, make a profit. The long-term plan is to be very successful as a club and business, and within a 10-year-period be recognised as one of the top clubs in Europe.

"If Mr Abramovich left tomorrow, we're secured."

I don't think you can say Chelsea will definitely be at Stamford Bridge in 10 years time
Peter Kenyon
Kenyon added that he hoped to see a significant reduction in the amount of money spent on big-money transfers by the London club.

The Blues spent 175m on transfer dealings in the 2003-04 season, Abramovich's first campaign at the helm, but that dropped to 57m for 2004-05.

"One of the key aspects of our future business is to spend less on transfers and grow more of our home-grown talent," revealed Kenyon.

"That's why we recruited Frank Arnesen to what was already a great academy structure."

Former Tottenham sporting director Arnesen left Spurs in June 2005 to move to Chelsea.

Meanwhile, Kenyon said the club had an open mind about the possibility of building a new stadium for the club.

When asked whether Chelsea would still be at Stamford Bridge in a decade, Kenyon said: "I don't think you can say that.

"The extension to the ground to get the capacity to 42,700 was a major achievement.

"To get to over 50,000 - which is where we'd like to be - we're working and evaluating on that and, if we can't, then we'll evaluate all the other possibilities.

"I don't think we're putting a timeframe on it, what we're saying is we've not yet finished evaluating the opportunities at Stamford Bridge."




WATCH AND LISTEN
Interview: Chelsea chief exceutive Peter Kenyon



SEE ALSO
Chelsea make record 140m losses
27 Jan 06 |  Chelsea


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