Todd Boehly has urged Chelsea fans to keep the faith, insisting the property “are going to find out” after a disastrous campaign that put them 12th in the Premier League.
The Blues co-owner opened up about his first 12 months with Chelsea at Beverley Hills in a chat with Milken Institute chairman Michael Milken.
Chelsea are winless in their last nine games in all competitions, a streak stretching back nearly two months, and they will finish the season without silverware and without Champions League qualification.
But Boehly, while understanding the “demanding” nature of the fans, believes better times are on the horizon for Chelsea.
“Fans are demanding,” Boehly said.
Todd Boehly confronted Chelsea’s dismal season at conference in Beverly Hills
Mykhaylo Mudryk (left) and Raheem Sterling (right) have arrived as part of a £600million squad overhaul
“You know they want to win and we understand we want to win so you know I think our view was that this is a long term project and you know we are committed to the long term.”
“We strongly believe we will figure it out.”
He added: “We have the best league in the world, we have what I think is the best city in the world and we have an incredible location in the best city in the world.”
Boehly was speaking just days after Chelsea were humiliated in a 3-1 loss to London rivals Arsenal.
Fans on the pitch could be heard chanting for former owner Roman Abramovich, and caretaker boss Frank Lampard then offered a scathing assessment of the issues off the pitch.
“Winning is just the best feeling,” Boehly continued, noting his success with the LA Dodgers.
“You have to build a team and obviously the coach is the conductor of the team, so I think we learned a lot.
That conductor is likely to be former Tottenham manager Mauricio Pochettino, who remains in talks to take the job this summer.
But having already spent £50m to fire Thomas Tuchel and hire – and then fire – Graham Potter, Boehly’s next managerial appointment must be a success.
“Since I have been here, it is clear to see behind the scenes, on the training ground, the reasons why [things are going wrong]”, caretaker boss Lampard said this week.
“If you want to be a great team to play against all the time, no matter where you go. That won’t change overnight, but we better get there fast.
“The passive nature of our game can be attributed to a lot of things. Players definitely care.
“They lack confidence, but when you play for Chelsea you have to play a certain way even if you lack confidence.
“Anyway, it might not even matter because the only thing that will get you out of it is understanding and working hard.
“The gap was the other way for many years.”
Chelsea have sacked Thomas Tuchel and Graham Potter since the start of the season
Boehly (left) conceded it was a learning experience, but he thinks it will be understood
Fans were heard chanting for former owner Roman Abramovich (right) on Tuesday, with whom Chelsea enjoyed huge success, winning multiple Champions League titles during that spell.
Boehly has invested heavily and has yet to see the tangible success he envisioned when he bought the club alongside Clearlake Capital.
But the American billionaire is confident the slate will be clean for next season and he highlighted his success with the Dodgers as one of the most attractive teams to watch in Major League Baseball.
For now, Chelsea fans are eager to see this season return with a trip to Bournemouth this weekend followed by Nottingham Forest at Stamford Bridge.
Lampard is yet to win since taking care of him on an interim basis and will be looking to stop this run on the south coast.