Luiz Felipe Scolari has been told that he will have to
sell players if he wants to add to his squad during the January
transfer window. The Chelsea manager had expected to be given some
of the £28 million that was set aside to sign Robinho in the summer
before the club were gazumped by Manchester City on transfer
deadline day, but, with Chelsea looking to cut costs across all
areas of their business, the money will no longer be
forthcoming.
Scolari had shrugged off comments from Peter Kenyon that Chelsea
would not be “active” in January, but since the chief executive's
remarks at last week's NFL Global Sports Summit the message has
been relayed to him internally. The Brazilian may be permitted to
make an emergency signing or to take a player on loan if the
injuries that have hit his squad badly this season increase
significantly, but in the normal course of events he will have to
sell before he can buy.
The form of Luís Fabiano, the Seville striker, had been
monitored by Scolari with a view to making a move for the Brazilian
in January if Didier Drogba's injury problems continue.
This new sense of prudence is a response to the global economic
crisis and a renewed determination to operate independently from
the largesse of Roman Abramovich, the club's billionaire owner. It
is unclear how much the Russian has lost as a result of the
worldwide stock-market crash, with his spokesman dismissing
estimates of a £12billion fall in his fortune as “arbitrary” and
“paper losses”, but there is a general acceptance at the club that
his losses have been significant.
Chelsea's stated target is to break even by 2010. That is a tall
order given that their most recent published results, for the year
ending June 2007, showed losses of £74.8 million, and as the rise
in the club's wage bill shows no signs of slowing, curbing transfer
spending may be the best way of progressing towards their aim.
The club have succeeded in cutting net transfer spending from a
peak of £126 million three years ago to £11 million last year and
are determined to continue with this policy, particularly taking
into account fears that the economic slow-down could cause
advertising and marketing revenues to drop. Chelsea's turnover has
increased dramatically to £190.5 million over the past few years on
the back of lucrative sponsorship deals with Samsung and adidas,
but further growth in the future cannot be guaranteed.
Abramovich has also expressed concern at the lack of value to be
found in the January transfer window, based on the limited success
of previous mid-season signings. Chelsea spent £24 million on
Nicolas Anelka and Branislav Ivanovic last January, player
expenditure that will show up in their next set of accounts to be
published in February, but those players made only limited
contributions last season. Anelka scored two goals and missed the
penalty that cost Chelsea the Champions League final, while the
Serbia defender did not make a single appearance and this campaign
has made only one start in the Barclays Premier League.
Unlike José Mourinho, one of Scolari's predecessors, whose
furious rows with Abramovich when told he could not sign Tal
Ben-Haim two years ago played a crucial role in his eventual
departure, the Brazilian has reacted to news of the changed climate
with equanimity because he believes that his existing players are
good enough to compete for honours and likes to operate with a
tightly knit squad.
Scolari hopes that Michael Essien will have recovered from knee
ligament damage to be available in January, the midfield player
having returned to training earlier than expected, while he would
have no shortage of offers for several of his fringe squad members
should he opt to raise funds. Wayne Bridge, the left back, attracts
offers from Premier League clubs during every transfer window, Roma
have a longstanding interest in Florent Malouda, the France winger,
and Ivanovic is surplus to requirements.
