Under bates, Chelsea were two weeks away from going bust. It's a pity they didn't.
There was always a lot of rubbish written about Chelsea's finances, and that's what it was, rubbish.
The £97million debt around 2002 which so often gets mentioned was for the Village not the football club, and it takes no account of the value of the wider businesses property and other assets!
So to compare Chelsea's debts with other clubs is apples and oranges, but we all know and get used to listening to the rubbishing of Chelsea who find it fun but have no knowledge of the FACTS.
The truth is that Chelsea's position was no more or less precarious than any other major clubs but the assets being far greater than any debts and the pitch being owned under a deed of trust by the fans, the future of the football club is never in doubt.
Yes there were high profile players and high wages being paid and the wages bill needed to be slashed and players offloaded which is why Trevor Birch was brought in to strip out all the old wood and balance the books better, which he did.
The difference was we did that publically where as most other clubs keep it in-house.