Roman Holiday

With domestic matters wrapped up no less than a week ago, the affectionately known ‘silly season’ is already upon us. And there could be no phrase more apt for the annual merry-go-round, which sparked into action with Man City’s signing of Gareth Barry and Kaka’s proposed switch to Real Madrid.

As the pundits speculate on how much wad Florentino Perez and Sheikh Mansour will throw at their wealthy clubs, Roman Abramovich faces the altogether unfamiliar role as their cash poor relative.

Whilst money appears to be no object for Perez and Mansour, the Russian oligarch has seen in excess of £3 billion wiped from his fortune by the international credit crunch and his 2007 divorce. Although far from hard up, one wonders whether he is willing to make the kind of investment that will compete with the nouveau-riche City and a wounded Madrid.

Last week John Terry and Frank Lampard both championed the prospect of expensive new signings and Carlo Ancelotti will already have a wish list for when he takes over on July 1st. Regardless of what the tabloids may say, Ancelotti is no hand-puppet and will begin his tenure with a bold attempt to prise Franck Ribery from Bayern Munich, a move that would require Chelsea to break their transfer record.

But will Abramovich back up his new manager's expensive tastes? And just what is the real picture surrounding future investment at Stamford Bridge? Chelsea fans will be quick to tell you that their Russian benefactor is ‘in it for the long haul’ and to be fair, he hasn’t let them down so far. Even the last two so-called ‘modest’ seasons have seen signings of Malouda and Bosingwa for a total of £30million. When you throw in Deco and Ivanovic at £8million each, it doesn’t appear belts have been tightened too much.

But if Chief Executive Peter Kenyon genuinely believes Chelsea can be self-financing by 2010, then they can wave goodbye to regular Champions League football. Let’s be honest, the only way Chelsea will continue to be a force over the next decade is through an investment to equal the estimated £600million Abramovich has poured into the club since 2003.

In 3 years from now Chelsea’s finest ever spine will be past their prime. Cech, Terry, Lampard and Drogba may still grace the turf at Stamford Bridge, but as a shadow of the force they represent now. The chances of the club finding capable replacements through self-finance or youth development are miniscule. Only cold hard cash will find sufficient successors on the right side of 25. How many young central midfielders are there currently in world football who could fill Frank Lampard’s boots? Cesc Fabregas? Andreas Iniesta? Both would cost in excess of £50million in the current market.

This raises the question, just what does Abramovich want out of Chelsea? Long term success? Short term entertainment? It goes without saying he is a shrewd operator and must understand that football clubs do not make money. He will never get his current outlay back, let alone receive any return on investment. Couple this with the fact that money is no guarantee of success and who would blame him if he tightened the purse strings? Only one club can win the champions league each season, and defeats in four out of five semi-finals have shown him that football can be a very cruel mistress.

Only time will reveal Roman's long term plans. But those who cast aspersions over Chelsea’s ageing squad should beware. Ancelotti inherits a group of players who are invigorated and bonded by the inspirational Guus Hiddink. Drogba, Ballack and Lampard may be in their early thirties, but this is hardly past-it, particularly given their exceptional athleticism. Add to the mix a returning Joe Cole, Michael Essien and the resurgent Florent Malouda and Chelsea should be considered the greatest threat to Manchester United next season.

Whether or not they snap up Ribery, Zhirkov, Pato or Villa this summer, there is one signature that matters more than any other. Chelsea must hang on to Didier Drogba. Yes, he is possibly the most reviled footballer in England after Joey Barton, and who could forget his wild eyed ranting into the camera following the Champions League defeat? But who cares? Other than Fernando Torres, there is no other centre forward in the world who makes such a considerable difference to their team. Not only does he occupy defences with a physical presence like no other, but he has the priceless knack of scoring in the games that matter. For all Anelka’s exploits this season, it was Drogba who scored against Juventus, Liverpool and Everton in three of Chelsea’s biggest games.

It’s no wonder Real Madrid and Inter are eyeing him as a potential acquisition – even at the grand old age of thirty-one. To replace him Chelsea would have to break their transfer record, and there is no guarantee that an Ibrahimovich or Villa could fill his boots. If Roman does reach for the chequebook this summer, his first one should be made out to Mr D. Drogba.