Who is running our club — and what are they actually trying to achieve?

Being a Chelsea supporter is not a lifestyle choice. It is not a subscription you cancel when results go bad. It is something that gets into your blood — passed down from your dad, your grandad, your older brother, your mates from school. It is the scarf you wore as a kid at Stamford Bridge in the freezing cold, standing next to someone you loved, watching eleven men in blue and feeling like nothing else in the world mattered. It is the badge on the shirt your child now wears. It is the tattoo you cannot explain to people who don't understand football, and don't need to explain to people who do. Chelsea Football Club is not a brand to us. It is not an asset class. It is not a portfolio company. It is a living, breathing part of who we are — woven into our identities, our families, our friendships and our memories in ways that no boardroom decision can fully comprehend, and no balance sheet can ever capture. We turn up in the rain. We travel to away grounds on cold Tuesday nights. We watch from the other side of the world in time zones that make no sense. We buy the shirts, the scarves, the programmes. We purchase from the sponsors. We subscribe to the channels. We fill Stamford Bridge every single home game regardless of whether the team is competing for a title or clinging on to a mid-table position. We have always been there. We will always be there. And that is precisely why we are here. In May 2022, Chelsea Football Club was purchased by a consortium led by Todd Boehly and Clearlake Capital. Since that day, the club has spent over £1.3 billion on players. We have had five permanent managers in under four years. We have recorded over £900 million in operating losses. We have reported a record Premier League pre-tax loss of £262.4 million for 2024/25. And through all of it, we have had no meaningful explanation from our owners about where this is all going — or what success actually looks like to the people now running our club. We understand that private equity exists for a specific purpose: to invest capital, grow the value of an asset, and return a profit to its investors within a defined timeframe. That is not a criticism. That is simply what private equity is. But Chelsea Football Club has existed for over 120 years. The supporters who have loved it across those generations did not do so to provide a return on investment. They did it because this club is part of who they are. We are not the same. We are not cut from the same cloth. And we think it is important — for the first time, honestly and openly — to acknowledge that difference rather than paper over it with carefully managed fan forums and reassuring press releases that answer nothing. We come to this platform in good faith. Not with anger. Not with hostility. But with the deep, genuine belief that the one thing supporters and owners should be able to agree on is this: that Chelsea Football Club should be successful. Successful on the pitch. Successful in the long term. The kind of success that means something to the people who have given this club their hearts across generations. And here is something the owners should understand above all else: that financial success — the kind they rightly care about — flows directly from us. We buy the tickets. We purchase the merchandise. We watch on television. We attract the sponsors. We fill that stadium week after week and make this club worth something commercially. Without the supporters, there is no asset. Without our passion, there is no product. Without us turning up in the rain, none of this has any value at all. So we think that earns us the right to be treated with respect. Not managed. Not placated. Respected — with honest, detailed, specific answers to the questions that matter most to the people who matter most to this club. We are asking these questions because we love Chelsea Football Club. We are asking them here because we have not been able to get answers anywhere else. And we are asking them now because, four years into this ownership, we believe we have waited long enough. These are those questions.