Abramovich hit by credit crunch

Image: Arnesen: No turning back

Frank Arnesen says Roman Abramovich has had to 'hit the financial brake' amid the global credit crunch.

Chelsea owner to reduce outgoings amid financial fragility

Frank Arnesen has revealed that Chelsea owner Roman Abramovich has had to 'hit the financial brake' amid the global credit crunch. Russian billionaire Abramovich has injected a substantial amount of money into the Stamford Bridge outfit since he took over in 2003. However, Arnesen, the club's chief scout and director of youth development, has confirmed the Blues are set to temper their previously extravagant spending. Arnesen said: "The structure is now in place and the financial crunch has meant that Roman has hit the financial brake, and asked us to cut deep, we have cut down significantly on scouts and other activities. "However, we are now getting close to the time when the club can carry on without Roman's money. "80 per cent of the dreams I had after the switch from Tottenham are now being put into place. There is no turning back."

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