When they bought Torres the rumour was the Ancellotti wanted Aguero instead! This makes sense as he was linked often in the papers with a move. AVB will probably go the way of scolari if he doesn't start getting PL wins. Roman could subsidise a season without CL but players that chelsea need to strengthen would not sign without CL.
That is quite a statement to make seeing as how City bought up half the best players in the world who were available, without champions league on offer.
People make a big song and dance about the champions league, but the prem league is FAR harder to win over 38 games than the champs league is, likewise the worst teams in the champs league and usually at least one team in each group is noticeably worse than the worst premier league teams.
As a footballer I would really have no problem going to a club that wasn't in the champions league, especially as they could double Modric's wage and are more likely to be in the champions league in the next decade than Spurs are.
As for subsidising without the champs league, he already does that with the champs league anyway, he probably makes profits a dozen, maybe dozens of times higher than the losses he takes at Chelsea.
The one thing is though, its very easy for managers to blame a team starting to fail on an owner. Torres was rated as the best striker in the league by the majority in here, Schevy was a world class striker when they bought him. The fact both have failed aren't actually Roman's fault, Torres could have come in and scored 30 a year, most people thought he would. You can't always tell how a player will adapt and it wasn't completely obvious that Torres's lack of form was, seemingly permanent rather than temporary.
How many crap strikers did Mourinho buy, and right backs, and central midfielders, before Roman got bored and wanted to buy what a LOT of people rated as one of the best strikers around in the champs league at the time?
Mourinho sold Robben and a few really quality players and a LOT of his buys were worthless crap that was costing Roman hundreds of millions, with Mourinho it was really how he refused to use players or give them a chance, then would get rid of them for nothing while demanding more money to replace them.
if I was the owner of Chelsea with Mourinho in charge I would have taken control of buying as well. The core of the team was there before Mourinho was, except Robben/Cech who Ranieri bought before he was fired.