Chelsea 'chasing' United

Chelsea today revealed their ambitions to become a bigger club than Manchester United.

New chief executive Peter Kenyon began work on Monday and has been given the task of taking Chelsea past his old employers at Old Trafford.

Kenyon was credited with developing United's global brand, taking the club into new markets in America and the Far East, and is charged with repeating such success at Stamford Bridge.

Bruce Buck, chairman of the club's parent company Chelsea Village, told Chelsea TV: "We see Manchester United with a very good brand that is reasonably well recognised around the world and we think we can do that or better, largely because we are a London club.

"If Manchester United was sold today it could yield £500, £600 or £700million depending on how the Stock Market is on any given day. That's the kind of thing we want to achieve. We want to be able to have a club with that kind of a value. You have got to have a whole new approach to marketing and brand recognition."

Buck also stressed that Chelsea would continue to be run as a cost-efficient business, despite the vast wealth provided by owner Roman Abramovich. He added: "It's very important to fulfill our financial potential. This is a business and we are looking at our costs. We want to develop our football team and put money into it.

"In Peter (Kenyon) we have really found the guy that can take the marketing to the next level. That's what we are excited about. With his background at Umbro and United he can do things in the marketing and branding area that has not been seen in sports this side of the Atlantic."