Abramovich investment reaches £500million

Dowie reaches for the Sky Blues

Rafa issues warning

—– It is confirmed that Roman Abramovich’s investment in Chelsea has now exceeded £500million.
Accounts show losses of £80.2million for the financial year to June 2006.
The losses are £60million down on the £140million deficit recorded in 2004-05
Chief executive Peter Kenyon believes the Stamford Bridge club are still on target to break even by 2009-10 though: “Last year we took some painful decisions in order to help us achieve our long-term business aims. This year’s figures prove that was the correct decision.”
They also announce that prices will be frozen on all non-corporate tickets for their Premier League matches next season and significant price reductions for Champions League group games.

—– Coventry City unveil Iain Dowie as their new manager.
The 42-year-old was dismissed by Charlton Athletic in November after just 12 league games in charge at The Valley.
The former Oldham Athletic and Crystal Palace boss admits to earlier talks with new owner Milan Mandaric regarding a possible appointment at Leicester City. He also rejected Hull City’s approach in December.
Sky Blues’ managing director Paul Fletcher says: “Iain was incredibly impressive on the occasions we met and there is no doubt that he was by far the strongest candidate in all the criteria we set.”
Dowie will be assisted by his former Southampton team-mate Tim Flowers.
Caretaker manager Adrian Heath was sacked yesterday in the aftermath of Saturday’s 0-3 defeat at Leicester.
He had been in charge at the Ricoh Arena since Micky Adams was dismissed on 17 January.
Coventry are currently in 17th position in the Championship.

—– Following Sunday newspaper allegations of a fracas between Craig Bellamy and John Arne Riise during the current training camp trip to Portugal, Liverpool manager Rafa Benitez confirms he will take disciplinary action and fine any player who are found to have breached club rules.
Speaking ahead of Wednesday’s visit to Barcelona in the Champions League, the Reds boss says: “I’ve made it clear to them the responsibilities that come with playing for this club and how they are expected to conduct themselves.”

—– After three consecutive wins, Brentford miss they chance to increase the pressure on their League One relegation rivals.
The Bees lose 0-1 at home to Northampton Town with a rare phenomenon in English football - a starting line-up of eleven Englishmen.