No January buys for Chelsea says Kenyon

Chief executive Peter Kenyon today confirmed Chelsea have no plans to enter the transfer market in January - because he believes manage Luiz Felipe Scolari can deliver success with the tools he has available.

The Blues have started the season unbeaten in all competitions and sit top of both the Premier League and their Champions League group.

Kenyon said: "We see ourselves as being very focused on getting the title back.

"From where I am sitting the Premier League is more competitive than last year.

"I know it sometimes looks predictable but I can promise you it is not.

"We have a squad that is good enough, arguably the best squad in depth and Luiz has the ability to get the best out of that.

"Luiz Felipe Scolari has had a fantastic start and had a big impact - top of the league and top of our group in Europe."

Chelsea spent around £20m in the summer in recruiting full-back Jose Bosingwa and playmaker Deco.

Scolari missed out on Brazilian superstar Robinho, who opted to sign for Manchester City, but Kenyon stated Chelsea will not be in the market for January reinforcements unless they are hit by another injury crisis.

Last month, Scolari signed Brazilian midfielder Mineiro on a free transfer after losing Michael Essien for six months with knee ligament damage.

Kenyon explained: "It's our intention to put our squad together at the start of the season.

"I don't see us being active in the January window. I don't think there is a need, unless that changes through events like injuries."

Kenyon was speaking at the Global Sports Summit, a conference of sports business leaders organised by the NFL to coincide with Sunday's game between the San Diego Chargers and New Orleans Saints at Wembley.

Kenyon believes Chelsea are well placed to negotiate the current financial crisis and revealed the club will become "self-funding" from next year.

But he could not put a precise date on when the club will be financially independent from billionaire Russian owner Roman Abramovich.

"We are moving towards profitability and independent funding," said Kenyon.

"It is not a precise science. We have invested heavily in facilities and next year we will be self-funding from a club and company point of view given how much money we have spent.

"The reality is that no-one is recession-proof but we are in as good a position as anybody else. We have no external debt and that has to be a competitive advantage at this stage.

"In the short term a lot of our revenue is contracted into the future but you have to work hard to maintain that.

"Part of our overall view for Chelsea is to be a very successful club on the field and be a responsible business off it.

"As a club we are moving very much towards that 2010 or 2011 timeframe to be possible. I think Chelsea are in a good position."

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