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Peter Kenyon will leave his role as Chelsea's chief executive next month having failed to achieve his target of making the club self-sufficient and turning them into the one of the best supported teams in the world.
Kenyon had big plans for the Blues after being lured by Roman Abramovich from Manchester United in 2003.
In February last year he said: “Our long-term targets of operating profit and breaking even by 2009/2010 remains ambitious but we are determined to meet it.”
However, a year later Chelsea's accounts revealed they had lost Ł65.7million in the 12 months to June 2008.” In 2006 Kenyon said: “By 2014 we want to be internationally recognised as the No1 club”. However, his early departure means he cannot achieve either aim.
Kenyon's position has been subject of much speculation in recent months, especially after Chelsea fired manager Luiz Felipe Scolari in February while he was away on holiday.
It is believed Kenyon had little say in the appointment of manager Carlo Ancelotti in the summer and has been working more on the commercial side of things rather than on transfers.
Frank Arnesen has increasingly grown in power and was promoted from being the director of youth development to sporting director in July. But Chelsea insist his departure is amicable and has nothing to do with any reported power struggles.
Kenyon will continue to be a non-executive director and represent Chelsea on various UEFA and European Clubs' Association committees.
He said: “When I joined Chelsea it was an incredible challenge and together with all the staff, the players, the board and Roman, I think we have built a club, in a relatively short space of time, that can be in the forefront of European football for many years to come. That is a major achievement.”
Kenyon's departure also comes just two weeks after they were banned by Fifa from making any transfers until January 2011 for inducing Gael Kakuta to break his contract with Lens in 2007. But a Chelsea source confirmed he will continue to work on Chelsea's appeal and has not been blamed for it.
Reader views (11)
Anyone else loving the Big Club fans' replies on here?!!
You lot are priceless!
- Stu, Beckton
Blue Baby writes - "Kenyon has been behind many initiatives which have made life easier for fans - no increase in non-corporate season tickets, cheaper cup tickets, institution of the Fans Forum" - now if that is worth a supposed pay packet of 3 million + over 5 years who is brain dead?
- Melly, Cartagena, Colombia
Looks like Mr. Kenyon has the full backing of the board at Chelsea.
- Frank, Wigan
Shame, really. He was the perfect symbol for Chelsea. Just ahead of Ken Bates, Didier Drogba and John Terry's mother. . . .
- Peter, West London
No way we want him at Tottenham....
I agree he is on his way to City...
Not surprised, Him and Roman and Bruce, next Arnesen...
Can't have those guys at a club like Chelsea
- Adrian, london
If peter kenyon had Arsene Wenger as manager the club would be in credit by now with attractive football and younger players. No problem with transfer embargo as the team would have been developing rather than waning. I am sure he will enjoy an early retirement.
- Sorie Kamara 'Kamsoman', LONDON, UK
Stu, We don't need him. We are already famous, historic, a great current team with lots of UK players and profitable too.
- Coys Switz, switzerland
Excellent Business Manager - are you for real - please explain to me how in the years he was with Chelsea he showed at any stage good, sound business management?
- Melly, Cartagena, Colombia
I agree with John Jones - Peter Kenyon has been behind many initiatives at CFC which have made life easier for fans, particularly in the current economic climate; no increase in non-corporate season tickets, cheaper cup tickets, institution of the Fans Forum.
Only the brain-dead (and unfortunately we still attract a few of those) will stick to the mantra of "he's done nothing for the club".
As for a replacement, I think I hear the tip-tapping of Ms Brady's stilettos in the distance...
- Blue Baby, London
No doubt Tottenham will be in for him.
- Stu, Beckton
This is a bad blow for Chelsea.
Peter Kenyon is an excellent business manager who will be hard to replace.
I am sure he will have the pick of clubs to work for.
- John Jones, Westminster
