Dark days down at the Bridge right now, with Chelsea out of the Champions League and in danger of dropping out of the title picture following a return of just seven points out of a possible 15.

That would mean a trophyless debut season for Carlo Ancelotti at the west London club, and that may mean it is his only season.

Oliver Kay in the Times puts the focus onto owner Roman Abramovich, and why he may be ultimately to blame for what's gone wrong over the past few years.

Fifteen minutes after the final whistle blew on Chelsea’s latest unsuccessful tilt at the Champions League, Roman Abramovich, flanked by minders, took a long, lonely trudge across the pitch at Stamford Bridge.

His face, as ever, was inscrutable, but enough noises have come out of Stamford Bridge to tell us what he was thinking. Disappointment with Carlo Ancelotti? Yes, a little. Anger with his players for failing to deliver the performances in proportion with their pay-packets? Yes, plenty. Regret at losing sight of the big picture over the past year or two? Intriguingly, yes.

Abramovich, according to someone close to him, is facing up to having made mistakes. To an outsider, the obvious one was falling out with José Mourinho, but the Chelsea owner is more concerned by the way he has allowed his squad to grow older — and, very significantly, richer — while seeing Manchester United re-establish themselves as the dominant force in English football.

He continues:

Considering it was always Abramovich’s aim for Chelsea to break even by 2010, the lack of forward planning is staggering. Although the precise figure has not yet been released, Chelsea’s wage bill for the last financial year was more than £150 million. United’s was a not inconsiderable £123 million, but the champions’ turnover was £72 million higher than Chelsea’s. In terms of wages as a percentage of turnover, Chelsea spent at least 70 per cent. The equivalent figures at United and Arsenal are 44 per cent and 33 per cent respectively.

Abramovich accepts that to rejuvenate the squad he will have to spend, but he is loath to throw good money after bad. Joe Cole, out of contract this summer, seems destined to be the first victim of a purge of the older players, but he might not be the only one.